A fund is to be established to pay annual scholarships of $ 1,000,continuing forever.The first scholarship is payable in one years from now.If the annual rate of compound interest is 2.5%,find the value of the fund.
A) $ 25,000
B) $ 30,000
C) $ 35,000
D) $ 40,000

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The Answer of A fund is to be established to pay annual scholarships of $ 1,000,continuing forever.The first scholarship is payable in one years from now.If the annual rate of compound interest is 2.5%,find the value of the fund.
A) $ 25,000
B) $ 30,000
C) $ 35,000
D) $ 40,000

A Fund Is to Be Established to Pay Annual Scholarships