To provide an annual scholarship for 25 years, a donation of $50,000 is invested in an account for a scholarship that will start a year after the investments is made. If the money is invested at 5.5% per annum, compounded annually, how much is each scholarship? T 13 A 12

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
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ISBN:9780547587776
Author:HOLT MCDOUGAL
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Chapter7: Percents
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Math 60

To provide an annual scholarship for 25 years, a donation of $50,000 is invested in an account
for a scholarship that will start a year after the investments is made. If the money is invested at
5.5% per annum, compounded annually, how much is each scholarship?
T 13 A 12
Transcribed Image Text:To provide an annual scholarship for 25 years, a donation of $50,000 is invested in an account for a scholarship that will start a year after the investments is made. If the money is invested at 5.5% per annum, compounded annually, how much is each scholarship? T 13 A 12
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