Problem 1. (30 points) a) Jim and Linda both ISU alums want to set up a trust fund to help pay for an endowment chair position in engineering and technology per year starting end of year (EOY) 11 perpetually. If $500,000 is invested in the trust today and if it earns a rate of return of 10% per year, what will be the equivalent annual endowment amount starting EOY 11? b) Deborah bought a car for $30,000 upon graduation from an engineering and technology college with a very good job offer. She made a down payment of $3,000. The rest of the amount was financed at 3% nominal interest with 30 equal monthly payments, the first of which is to start at the end of 7th month (although the interest is accrued, but nothing is paid until the 7th month). Determine her monthly payment