Question: I got wrong answer frome here and the correct one is ( 2.94%) ,could you please tell me the sulotion for correct answer. I appreciate

I got wrong answer frome here and the correct one is

I got wrong answer frome here and the correct one is ( 2.94%) ,could you please tell me the sulotion for correct answer. I appreciate it.

Question 4 (2 points) Dr. Khizhinkova wants to create a (perpetual) scholarship program at Camosun College. She plans to donate $175,000 and has stated she would like the scholarship to pay out $5,000 per year. What interest rate, compounded annually, will Camosun College need to achieve on its investments if they are to meet Dr. Khizhinkova's requirement? (% to 2 decimals) Hint: Always assume that scholarships/bursaries are paid at the beginning of the period

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