QUESTION 2 (Perpetuities) You want to start a scholarship fund for Elite Education students which will pay $10,000 per year forever, starting one year from now. If the bank pays the schools scholarship fund at discount rate of 10%, what is the amount you must donate now to start the scholarship fund. How would your answer change if you want to only start paying the scholarship awards only in 10 years from today? QUESTION 3 (Annuities) Your company is buying a new telephone system that will last 4 years. You car purchase the system for an up-front cost of $180,000, or you can lease the system from the vendor for $50,000 paid at the end of each month. The leasing is offered for 4 years with no early termination. Your company can borrow at an interest rate of 8% pa. Should you buy outright or borrow to lease the new telephone system