Question: Problem 5 Intro Brooklyn College alumni recently established an endowment fund that will provide annual scholarships of $18,000 indefinitely. The first scholarship will start 1

Problem 5 Intro Brooklyn College alumni recently established an endowment fund

Problem 5 Intro Brooklyn College alumni recently established an endowment fund that will provide annual scholarships of $18,000 indefinitely. The first scholarship will start 1 year from now. The fund can earn annual rate of return at 3% managed by professional managers. IB Attempt 1/10 for 10 pts. Part 1 What is the fund worth today? No decimals Submit IB Attempt 1/10 for 10 pts. Part 2 What if the first scholarship starts 3 year from now, how much money should the alumni put into the fund today? No decimals Submit

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