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round of to the nearest cent A college plans to set up an endowment func that will provide a scholarship of $4,500 at the end

round of to the nearest cent

A college plans to set up an endowment func that will provide a scholarship of $4,500 at the end of every quarter, in perpetuity. How much should the college invest in the fund, if the fund earns 4.75% compounded quarterly

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