Question: 1.)A university wants to implement a new business program in five years. It wants to offer 10 annual $3,000 scholarships at the beginning of each

1.)A university wants to implement a new business program in five years. It wants to offer 10 annual $3,000 scholarships at the beginning of each year in perpetuity. If the scholarship fund can earn 5.45% compounded annually, what amount of money does the college need to raise today to fund the program?

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