What is the current economic value of an inheritance that will pay $1400 to the beneficiary at the beginning of every three months for 20 years, starting when the beneficiary reaches 20 years of age, 421 years from now? Assume that money is worth 7.5% compounded monthly. (Do not round intermediate calculations and round your final answer to the nearest dollar.) A deferred annuity consists of an ordinary annuity paying $3200 semiannually for a 12year term after a 6-year period of deferral. Calculate the deferred annuity's present value using a discount rate of 5.2% compounded quarterly. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Mrs. McTavish wants to establish an annual $2,000 scholarship in memory of her husband. The first scholarship is to be awarded two years from now. If the funds can earn 1.75\% compounded annually, what amount must Mrs. McTavish pay now to sustain the scholarship in perpetuity? (Do not round intermediate calculations and round your final answer to 2 decimal places.) What minimum amount will have to be dedicated today to a fund earning 9.9% compounded quarterly, if the first quarterly payment of $3000 in perpetuity is to occur five years from now? 'Do not round intermediate calculations and round your final answer to 2 decimal places.) Amount to be dedicated is $ Dr. Pollard donated $400,000 to the Canadian National Institute for the Blind. The money is to be used to make semiannual payments in perpetuity (after a period of deferral) to finance the recording of books-on-CD for the blind. The first perpetuity payment is to be made five years from the date of the donation. If the funds are invested at 4% compounded semiannually, what will be the size of the payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.)