* ou plan to take a trip around the world in five vears This trip would cost S30,000 today. You expect the cost to rise with inflation, currently forecast at 2%. How much would you have to deposit today in a term deposit earning 5%, compounded semiannually, to achieve your goal? Choose the closest answer. A) $21,390 B) $23,506 C) $24,371 D) $25,875 E) $27,172 2. You just retired with a ton of money and decide to set up a scholarship fund for deserving students in the John Molson School of Business. You feel that the education you received while there was one key reason for your success. You want the fund to be capable of awarding $25,000 annually in perpetuity. The first scholarship award is to be paid out exactly four years from today (assume that you retire today)? The funds invested will grow at a rate of 4% semiannually. How much money must you donate upon retirement? Choose the closest answer. A) $528,150 B) $549,487 C) $555,623 D) $574,253 E) $618,812