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A donor (you) wishes to start an endowment thatwill provide scholarship money of $50,000 per yearbeginning in year 5 and continuing indefinitely. Ifthe university earns

  1. A donor (you) wishes to start an endowment thatwill provide scholarship money of $50,000 per yearbeginning in year 5 and continuing indefinitely. Ifthe university earns 11% per year on the endowment, the amount you must donate now is closest to:

A.$248,360

B.$ 269773

C.$273,200

D.$225,470

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