The members want to set up a perpetual fund to provide, Financial Management

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The members want to set up a perpetual fund to provide

The local botanical society wants to ensure that the gardens in the town park are properly cared for The group recently spent $100,000 to plant the gardens. The members want to set up a perpetual fund to provide $100,000 for future replanting every 10 years.

a) If interest is 5%, how much money is needed for the fund?

b) If the last replanting is in year 100, how much is needed for the fund?

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