56. A generous benefactor donates $500,000 to a state university. The donation is to be used to fund student scholarships. Determine the dollar amount of scholarships that can be given out each year under each of the following conditions.

The state university earns 4 percent per year on its investments.

a. The donation is a quasi-endowment designed to last 20 years.

b. The donation is a quasi-endowment designed to last 30 years.

c. The donation is a quasi-endowment designed to last 50 years.

d. The donation is an endowment designed to last forever.