willow2730 willow2730

06-06-2023
Mathematics

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Five years ago, an alumnus of a university donated $74,316.4 to establish a permanent endowment for scholarships. The first scholarships were awarded 1 year after the contribution. If the amount awarded each year, that is, the interest on the endowment, is $4,752.99, the rate of return earned on the fund is closest to:

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