Question: Reena wants to set up a fund which will provide in perpetuity a scholarship of $34,00 to a deserving student at the end of each

Reena wants to set up a fund which will provide in perpetuity a scholarship of $34,00 to a deserving student at the end of each year with the first payment being made one year from today. Find the amount Reena should deposit today into the fund to provide for this scholarship if the interest rate is 3.8% compounded quarterly.

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