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Please draw a timeline for the question. Don't need answer 2. (3 marks) $X is invested today to provide for annual scholarships to be awarded

image text in transcribed Please draw a timeline for the question. Don't need answer

2. (3 marks) $X is invested today to provide for annual scholarships to be awarded forever. The first scholarship amount of $5,000 is to be awarded in two years time and each scholarship award thereafter increases by 3%. Ifj=5%, what is X

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