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You want to endow a scholarship that will pay $9,000 per year forever, starting one year from now. If the school's endowment discount rate is
You want to endow a scholarship that will pay $9,000 per year forever, starting one year from now. If the school's endowment discount rate is 10%, what amount must you donate to ondow 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 in S. (Round to the nearest cont.) How would your answer change if you endow it now, but it makes the first uward to a student 10 years from today? In this case, the amount you must donate today is ${Round to the nearest cent)
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