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The Sinclair family donated $125,000 to set up an endowment fund to provide month-end scholarships of $700 in perpetuity. What nominal interest rate compounded semiannually

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The Sinclair family donated $125,000 to set up an endowment fund to provide month-end scholarships of $700 in perpetuity. What nominal interest rate compounded semiannually was the fund earning? Do not round intermediate calculations. Express the final answer to three decimal places. Example: 4.123% compounded daily

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