Question #1: You want to establish an endowment fund that will pay a Lerner College professor $142,000 per year forever starting 7 years from today. The fund will earn an interest rate of 5%. How much must you donate today? Question #2: If you have a student loan with an APR of 8% that has monthly payments, what is the EAR that you are paying? Question #3 You want to buy a new car for $51,000 and the finance office at the dealership has quoted you a loan with an APR of 7 percent for 60 months to buy the car. What is your monthly payment? Show your detailed work with the answer.

Question \#1: You want to establish an endowment fund that will pay a Lerner College professor $142,000 per year forever starting 7 years from today. The fund will earn an interest rate of 5%. How much must you donate today? Question \#2: If you have a student loan with an APR of 8% that has monthly payments, what is the EAR that you are paying? Question \#3 You want to buy a new car for $51,000 and the finance office at the dealership has quoted you a loan with an APR of 7 percent for 60 months to buy the car. What is your monthly payment? Show your detailed work with the