Question: Question 9 (3 points) How much money must be set aside today in order to fund an ongoing bursary of $1,000 per year with the

Question 9 (3 points) How much money must be set aside

Question 9 (3 points) How much money must be set aside today in order to fund an ongoing bursary of $1,000 per year with the first payment occurring two years from today? Assume that the fund will earn j1=4%. Round your answer to the nearest cent (two decimals). Hint: Bursaries and scholarships are always assumed to be paid at the beginning of each period

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