Question: answer both questions correctly for a like. You set up a college fund in which you deposit $2000 each year at the end of the

answer both questions correctly for a like.

You set up a college fund in which you deposit $2000 each year at the end of the year. How much money will you have accumulated in the fund after 8 years, if your fund carns 9% compounded annually? Your Answer: Answer How much would you need to gift to the university today to establish a scholarship fund that pays out $25000 in scholarships in one year and grows the scholarship payout by 3% per year forever? Assume that the university endowment earns 10% per year on its investments. Your Answer: 1250000

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