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Problem 6 Intro Brooklyn College alumni recently established an endowment fund that will provide annual scholarships of $12,0
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Answer #1

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

$12,000.00 Annual scholarships No. of Annual scholarships Annual Interest rate First scholarships is awarded 5 years from now

Cell reference -

Annual scholarships No. of Annual scholarships Annual Interest rate 12000 20 0.06 # First scholarships is awarded 5 years fro

Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.

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