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    An alumnus wants to set up a trust (which earns 9% interest compounded semi-annually) to provide a grant to his alma mater of $10,000 every six months, beginning six months from now, for six years. How much should be deposited in the trust?

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    https://brainmass.com/business/interest-rates/interest-compounding-22908

    Solution Summary

    The solution presents a compound interest problem for a specified future value.

    $2.49

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