Question: needs solution and formula please Dr. Pollard donated $100,000 to the Canadian National Institute for the Blind. The money is to be used to make

needs solution and formula please Dr. Pollard donated $100,000 to the

needs solution and formula please

Dr. Pollard donated $100,000 to the Canadian National Institute for the Blind. The money is to be used to make semiannual payments in perpetuity (after a period of deferral) to finance the recording of books-on-CD for the blind. The first perpetuity payment is to be made five years from the date of the donation. If the funds are invested at 5% compounded semiannually, what will be the size of the payments? (Do not round the intermediate calculations. Round your answer to the nearest cent.) The size of the payment is $ 11425.88

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