A 60 year old alum donates 300000 today (at t-0) to the College for an annual scholarship that will start with the first scholarship payment in t=20, and thereafter, the scholarship amount will grow at a rate of 3% / year to account for inflation. If the College's discount rate is 7%%, how large will the first payment in t=20 be??

I ONLY HAVE THIS INFORMATION

Please answer only when you are 100%