Matthew invested his savings in a bank at 3.75\% compounded monthly. How much money did he invest to enable withdrawals of $4,500 at the beginning of every 6 months from the investment for 7 years, if the first withdrawal is to be made in 9 years? Round to the nearest cent Question 5 of 7 A college plans to set up an endowment fund that will provide a scholarship of $3,000 at the end of every quarter, in perpetuity. How much should the college invest in the fund, if the fund earns 5.25% compounded quarterly? Round to the nearest cent