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(2 pts) You want to set up an endowed scholarship that will pay $5000 a year in perpetuity. If the appropriate interest rate is 4%

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(2 pts) You want to set up an endowed scholarship that will pay $5000 a year in perpetuity. If the appropriate interest rate is 4% com pounded annually, how much will you have to donate today to set up the endowed scholarship? 4) (2 pts) You want to buy a $24,000 car and have saved up $3,000 to use as a down payment. If you finance the remaining cost of the car at 42% (APR) compounded monthly for 5 years, what will your monthly payment be? 5)

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