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Romandy Whale Watching Tours (RWWT) invests a portion of its earnings into a scholarship fund for students interested in studying marine biology. It would like
Romandy Whale Watching Tours (RWWT) invests a portion of its earnings into a scholarship fund for students interested in studying marine biology. It would like to determine how much it would need to set aside to make scholarship awards for the next 9 years. At the end of year 1, RWWT would like to award a $5,000 scholarship; each year, it will increase the amount of the scholarship by $2,000. How much money should RWWT invest, assuming the money is invested in an account that earns 4% compounded annually
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