4. (14 pts) (a) [4 pts) A company wants to establish an internship fund that will permanently yield 1200 at the end of each year. If the effective interest rate is 5%, how large must the fund be? (b) Let c be the number of interest conversion periods in one pay- ment period, i the interest rate per conversion period and ER the amount payable each payment period for a given complex ordinary perpetuity. (i) [4 pts) Show that the present value of the perpetuity is R 1 (ii) [1 pt) Assuming c, i and R as in part (i), write down the formula for the capitalised cost K of an asset in terms of its original cost F and corresponding perpetuity