Question: Answer with hand writing on paper, please. ( 2 4 points ) An alumni association wants to establish a scholarship fund that can provide $

Answer with hand writing on paper, please.
(24 points) An alumni association wants to establish a scholarship fund that can provide $500,000 annually for scholarships for 20 years, starting exactly 6 years from now (i.e., starting t=6). The association is planning to make the following cash contributions- an initial contribution now ) followed by 5 annual through t=5) contributions. The association just contributed $750,000. If the fund is expected to earn 15% per year compounded annually, determine the annual contribution the association would have to make over the next 5 years.
Answer with hand writing on paper, please. (24 points) An alumni

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