2. Mrs. Jones wishes to fund scholarships for 10 students per year at the level of $8,700 per student. She wants the first scholarships to be awarded 4 years from now, and they should continue once per year forever. The scholarship endowment earns 4% per year.

A) How much must she deposit now if she will make no other contributions?

B) Suppose, instead, that she makes one deposit today and an equal deposit three years from now (but the scholarship plan doesnt change). How much must each deposit be?