Consider the scholarship fund in the preceding question. Suppose that the first scholarship award occurs one year from now and the donor wants the scholarship to grow by 2 percent per year. How much should the donor deposit if the fund earns

a. 6 percent per period?

b. 8 percent per period?
Suppose that the first scholarship award occurs five years from now but is to grow at 2 percent per year after Year 5. the time of the first $3,000 award. How much should the donor deposit if the fund earns

c. 6 percent per year?

d. 8 percent per year?(Appendix)