Perpetuity and Inflation Henry Plant built and furnished the Tampa Bay Hotel in 1888 for a price of $3,000,000. The 2019 price of tuition and lodging at the University of Tampa is estimated to be $41,128. The rate of inflation between these years averaged 2.45%. How many 2019 dollars would you need to have the same purchasing power as Henry Plant's 1888 $3,000,000? (2pts) How many 1888 dollars would you need to have the same purchasing power as the 2019 tuition and lodging $41,128? (2pts) Imagine you were a philanthropic advisor to Henry Plant and you encouraged him to create an endowment instead of building the Tampa Bay Hotel. Assume Trustees could earn a 6% return for the endowment. How many students could a $3,000,000 standard perpetuity afford to support in 1888? (3pts) How many students could the perpetuity still afford to support in 2019? (3pts). If the perpetuity were designed to grow at the rate of inflation, how many students' tuition and lodging could have been supported every year with Henry Plant's initial $3,000,000? (5pts) What would happen to the perpetuity if inflation became larger than the 6% return that the trustees were able to generate? (EC)