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Question #5 You have decided to contribute for financially disperse students in your university with a title Scholarship for deserving students'. It is expected to

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Question #5 You have decided to contribute for financially disperse students in your university with a title Scholarship for deserving students'. It is expected to cost Rs.1,000,000 per year to attend the university into perpetuity. You expect to give the university such contribution in 10 years and will accumulate it by making equal annual (end-of-year) deposits into an account. The rate of interest is expected to be 12% for all future time periods. Requirements: a) How farge must the endocoment be? 5) Haru much miest you depasit at the end of each of the next 10 years to accumulate the required mount? (02 Marks) Best of Luck

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