What will be the amount of scholarship starting year

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A married couple, both engineering alums from a reputable engineering program in the East Coast has decided to set up an endowment to help an engineering scholarship at the rate of $X per year starting year 11 perpetually. If $100,000 is invested in the trust today and if it can earn a very good rate of return of 15% per year, what will be the amount of scholarship starting year 11?

Reference no: EM131388830

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