A wealthy BCIT alumnus has decided to make in endowment to the School of Business to and scholarship for the Business Math student with the highest final grade, She will doute 520.00 and the funds will be invested at 4.25% effective. (a) How much will the annual scholarship be if the first scholarship is in one year BGN P/Y CAY N I/Y PV PMT FV (b) How much will the annual scholarship be if the first scholarship is now? BGN P/Y CYN1/Y PV PMT (c) Deferred perpetuity. How much will the annual scholarship be if the first scholarships in 5 years? Step 1: FV of $20,000 BGN P/Y C/ YN I/Y PVPMT PMT 1 /Y PV Step 2: Annual Scholarship payment BGN P/Y C/ YN