2. Fred, a wealthy businessperson, intends to establish a memorial scholarship fund named for his father at a local private university with a lump sum gift, such that each year, four students will receive $35,000 each towards tuition. These scholarships will be awarded every year in perpetuity. The university expects to earn 5.00% per year on the gifted funds. Draw CF diagram. a. How much must Fred give to the university in order to fund the endowment? b. If the university could consistently make 8.00% on the gift, how much would Fred have to give in order to fund the scholarships as described above