Assume you would like to endow a $$25,000\mathrm{.}00$ annual scholarship at your University. The university tells you they use a $4\%$ interest rate for these calculations, how much will you need to give the university?

Assume you want to save for ten years to create this gift. How much would you need to save each month if your interest rate is $6\%?$

If you assume your spouse will outlive you by $20$ years and you wanted to assure them of an income stream of $$75,000\mathrm{.}00$ per year for those twenty years, how much would you have to set aside if you expected to receive $6\%$ interest during that time?