Clair decided to set up a scholarship for college students. She deposited $800 in an account at the end of each year for 8 years. The AV of this annuity will be used to buy a perpetuity that pays $400 at the end of each year for a deserving student. (i.e. firsts payment at time 9). Both the account and the perpetuity are the same effective annual rate of interest i. Determine