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The dean of the School of Business and Applied Arts at Red River College in Winnipeg wants to establish a scholarship program for the

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The dean of the School of Business and Applied Arts at Red River College in Winnipeg wants to establish a scholarship program for the newly created finance major in its business administration stream. He wants to distribute five $2,000 scholarships annually starting inimediately. How much money must he raise from college supporters if the perpetuity can earn 3.6% compounded monthly?

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