Clair decided to set up a scholarship for college students. She deposited $1000 in an account at the end of each year for 12 years. The AV of this annuity will be used to buy a perpetuity that pays $500 at the end of each year for a deserving student. (i.e. first payment at time 13) Both the account and the perpetuity are at the same effective annual rate of interest i Determine