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Bell Canada wishes to establish two scholarships, one at the University of Guelph and a...

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Accounting

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Bell Canada wishes to establish two scholarships, one at the University of Guelph and a second at the University of Guelph Humber. The universities intend to establish both scholarships for a fifteen-year period, and wish to adjust the annual payments for an anticipated 3% annual growth in inflation. From the monies provided, Guelph will pay out its first scholarship in one year for $10,000. Guelph Humber, on the other hand, will pay out its first scholarship in four years, with the first payment being $10,500. Funds are transferred to each university immediately and can be invested to generate a 5% rate of return over the life of the scholarships. What are the total funds that Bell must transfer to establish these scholarships? Show all calculations or calculator inputs

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