Question 6 of 27 - / 1 III View Policies Current Attempt in Progress You plan to set up an endowment at your alma mater that will fund $219,000 of scholarships each year indefinitely. If the principal (the amount you donate) can be invested at 5.0 percent, compounded annually, how much do you need to donate to the university today, so that the first scholarships can be awarded beginning one year from now? (Round answer to 2 decimal places, eg. 52.75.) Present value $ + Ch06 Homework -71 Question 7 of 27 View Policies Current Attempt in Progress A credit card offers financing at an APR of 21.5 percent, with monthly compounding on outstanding charges. What is the effective annual rate (EAR)? (Round answer to 2 decimal places, eg. 52.75%) %6 Effective annual rate e Textbook and Media + Ch06 Homework Question 19 of 27 -/1 E View Policies Current Attempt in Progress Paul White plans to invest $ 21,900 a year at the end of each year for the next seven years in an investment that will pay him a rate of return of 12.9 percent. How much money will Paul have at the end of seven years? (Round factor values to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25.) Future value of investment $ e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 50% score reduction after attempt 2