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You would like to endow a scholarship fund at your favorite university. The scholarship would pay $ 5 , 0 0 0 per quarter, every

You would like to endow a scholarship fund at your favorite university. The scholarship would pay $5,000 per quarter, every quarter, forever. If the university's endowment fund earns 3.5% compounded quarterly, how much must you deposit today in order for the first scholarship to be paid one quarter from today?
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