Question: Problem 13: You just won a Lotto MAX jackpot and decided to set up a $20,000 annual fellowship for the tallest Telfer freshman student. The

 Problem 13: You just won a Lotto MAX jackpot and decided

Problem 13: You just won a Lotto MAX jackpot and decided to set up a $20,000 annual fellowship for the tallest Telfer freshman student. The trust account where your money will be deposited earns 6% interest. You contemplating two options: establish the fellowship for the next 50 years or forever. Under both options the first fellowship payment will be made next year. By how much more money you must put in the trust account for indefinite fellowship than for 50 year fellowship option

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