A university alumni group wishes to provide an annual scholarship in the amount of $1,900 beginning next year. If the scholarship fund will earn an interest rate of 4% / year compounded continuously, find the amount of the endowment the alumni are required to make now.

$__________

Question

A university alumni group wishes to provide an annual scholarship in the amount of $1,900 beginning next year. If the scholarship fund will earn an interest rate of 4% / year compounded continuously, find the amount of the endowment the alumni are required to make now.
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$__________

Quizplus · Accepted Answer

The Answer of A university alumni group wishes to provide an annual scholarship in the amount of $1,900 beginning next year. If the scholarship fund will earn an interest rate of 4% / year compounded continuously, find the amount of the endowment the alumni are required to make now.
​
$__________

A University Alumni Group Wishes to Provide an Annual Scholarship