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The Bradford family wants to establish an ongoing scholarship award at a college. Each year in June $5,000 will be awarded, starting one year from
The
Bradford
family wants to establish an ongoing scholarship award at a college. Each year in June $5,000 will be awarded, starting one year from now. What amount must the Bradfords provide the college, assuming funds will be invested at 4% compounded continuously?
The Bradfords need to provide ___ to the college.
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