You want to endow a scholarship that will pay $5,000 per year forever, starting one year from now. If the school's endowment discount rate is 4% what amount must you donate to endow the scholarship? How would your answer change if you endow it now, but it makes the first award to a student 10 years from today? In the first case, the amount you must donate today is \$ (Round to the nearest cent.) Your grandmother has been putting $2,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 5%. How much money will be in the account immediately after your grandmother makes the deposit on your 18 th birthday The amount in the account upon your 18 th birthday is $ (Round to the nearest dollar.) Assume that your parents wanted to have $120,000 saved for college by your 18 th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 12.0% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $160,000 saved just in case, how much would they have to save each year to reach their new goal? a. How much would they have to save each year to reach their goal? To reach the goal of $120,000, the amount they have to save each year is \$ (Round to the nearest cent)