If you wanted to fund a scholarship that would pay $12,500 per year forever at GSU, how much would you have to deposit today if you wanted the scholarship to start paying five (5) years from today? Assume the endowment could earn 6.25% p.a. interest forever.

You currently owe $20,000 on a car loan at 8.25 percent interest. If you make monthly payments of $596.59 per month, how long (i.e., number of months rounded to one decimal place) will it take you to fully repay the loan?