Alain Dupre wants to set up a scholarship fund for his school. The annual scholar-ship payment is

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Alain Dupre wants to set up a scholarship fund for his school. The annual scholar-ship payment is to be $2500, with the first such payment due four years after his deposit into the fund. If the fund pays 7.25% compounded annually, how much must Alain deposit?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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