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( a ) A successful alumni of your university wants to establish a scholarship that will pay 2 engineering students $ 4 0 0 0
a A successful alumni of your university wants to establish a scholarship that will pay
engineering students $ per semester per year assume the students can enroll for only
semesters a year If the university earns on endowment accounts, what amount
must be deposited today by the alumni?
b The alumni decides to set up the scholarship by depositing $ in the
endowment account of the university. The rate of interest on the account is still and it
is for engineering students. What is the maximum that one student can receive per
semester from the scholarship? use the relevant equation to find the total dollar amount
of the scholarship. Then compute the amount each student will receive each semester
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