A) Chen has nothing saved for college. He will need to pay 39,530 dollars per year to the school for 5 years. The first of these payments will be made in 6 years. Chen can earn 5.19 percent per year. How much does Chen need to save each year for 5 years to have exactly enough to pay for his education if he makes his first savings contribution later today and all savings contributions are equal?

B)

Sabina wants to establish a charitable foundation that will make annual scholarship payments of $51,000 per year forever. Sabina wants the foundation to make the first annual $51,000 scholarship payment in 10 years from today and she wants annual scholarship payments of $51,000 to continue every year after the first payment. To fund the foundation, Sabina plans to make equal annual donations to the foundation for 9 years. How much does Sabina need to donate to the foundation each year for 9 years to have exactly enough in the foundation to make the planned annual scholarship payments if she makes her first donation to the foundation today, all donations to the foundation are equal, and funds held by the foundation are expected to earn 12.68 percent per year?

C)

Imari wants to establish a charitable foundation that will make annual scholarship payments forever. Imari wants the foundation to make the first annual scholarship payment in 6 years from today, she wants that first scholarship payment to be 33,980 dollars, and she wants annual scholarship payments to increase by 3.63 percent per year forever. To fund the foundation, Imari plans to make equal annual savings contributions for 5 years. How much does Imari need to save each year for 5 years to have exactly enough in the foundation to meet her goal if she makes her first savings contribution later today, all savings contributions are equal, and her expected return is 10.85 percent per year?