Awarded through local organization scholarship fund

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Reference no: EM131621283

Ron Sample is the grand prize winner in a college tuition essay contest awarded through a local organization's scholarship fund. The winner receives $1,900 at the beginning of each quarter for the next 4 years. How much should be invested at 2% interest compounded quarterly to award the prize? Round your answer to the nearest cent.

Reference no: EM131621283

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