For the Schoch Museum (Problem 30), use data tables to investigate the impacts of the percentage assumptions used in the model on the cumulative funds raised by the fifth year.

Data from Problem 30

The Schoch Museum is embarking on a five-year fundraising campaign. As a nonprofit institution, the museum finds it challenging to acquire new donors, as many donors do not contribute every year. Suppose that the museum has identified a pool of 8,000 potential donors. The actual number of donors in the first year of the campaign is estimated to be 60% of this pool. For each subsequent year, the museum expects that 30% of current donors will discontinue their contributions. In addition, the museum expects to attract some percentage of new donors. This is assumed to be 10% of the pool. The average contribution in the first year is assumed to be $50, and will increase at a rate of 2.5%. Develop a model to predict the total funds that will be raised over the five-year period.