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A university receives a certain sum as a bequest and invests it to earn 14 = 12.09 %. The fund can be used to pay

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A university receives a certain sum as a bequest and invests it to earn 14 = 12.09 %. The fund can be used to pay for a lecturer at $9900 payable at the end of each month forever, or the money can be used to pay for a new building that the university is planning to erect. The building will be paid for with 37 equal year payments, the first of which is due at the end of 20 month from today when the building will be occupied. Find the amount of each building payment

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