$0$

Q$14$

$+1$

A prosperous entrepreneur aims to offer scholarships to intellectually gifted yet underprivileged children. The intention is to establish an endowment that will allocate annual donations totaling $30,000$ indefinitely. Commencing distribution of these scholarships is scheduled for $7$ years in the future. The strategy involves an initial lump sum deposit today, set to appreciate at a $12\%$ semi$-$annual compounded growth rate. How much lump sum should he deposit today to meet the requirements of the perpetuity?