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Richie Rich wants to create an annual bursary at Camosun for a deserving business student. The bursary will pay $1,000 per year with the first

Richie Rich wants to create an annual bursary at Camosun for a deserving business student. The bursary will pay $1,000 per year with the first award starting in one year.

How much must Richie donate to establish the bursary if the donated funds will earn

4.00% compounded annually?

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