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On 1 January 2017 you decide to create a scholarship fund which will pay $11,000 each year commencing 1 January 2022. If the effective annual interest rate is 5.9%, the amount required at 1 January

On 1 January 2017 you decide to create a scholarship fund which will pay $11,000 each year commencing 1 January 2022. If the effective annual interest rate is 5.9%, the amount required at 1 January 2017 to establish the scholarship is closest to:

Select one:

a. $148237

b. $139978

c. $248325

d. $186441

Apr 14 2021 View more View Less

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