You are donating $10,000,000 to B University, which will use the annual income from this gift to fund scholarships for worthy students in need each year. The $10M will be invested in financial securities that are expected to yield income of 5.0% per year.

a. Timeline:

b. What is the expected $dollar amount that the donation will generate each year for scholarships?

c. How much $money would be available for scholarships each year if the donation were to earn 7.50% annually?