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Question 2 Not yet saved Marked out of 1.00 Flag question Question text A scholarship fund earns an effective annual rate of 10%. How much

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A scholarship fund earns an effective annual rate of 10%. How much does the scholarship fund need today if the fund pays an annual amount of $6,500, the first payment being one year from now, and grows at 2% per annum for an infinite period?

Select one:

a. $89,375.00

b. $81,250.00

c. $82,875.00

d. $74,750.00

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