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You want to set up a scholarship by investing money into an account earning interest at 4% p.a. compounding quarterly. The scholarship will pay $5,000

You want to set up a scholarship by investing money into an account earning interest at 4% p.a. compounding quarterly. The scholarship will pay $5,000 annually forever starting in 3 years. How much do you need to invest today? (Correct to the nearest cent.)

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