Assume the rate of interest is 8%. How much would you need to set aside to provide each of the following?

a $1 billion at the end of each year in perpetuity. (Enter your answer in billions rounded to 1 decimal place.)

b A perpetuity that pays $1 billion at the end of the first year and that grows at 4% a year. (Enter your answer in billions rounded to 1 decimal place.)

c $1 billion at the end of each year for 20 years. (Do not round intermediate calculations. Enter your answer in billions rounded to 3 decimal places.)

d $1 billion a year spread evenly over 20 years.