Q$3(15$ points$)$ Identify and value the following. By identify I mean tell me whether it is a perpetuity,

a growing perpetuity, a growing perpetuity due, an annuity, a growing annuity, annuity due, a series of

uneven cash flows, an annuity plus a perpetuity, etc.

You decided to create an endowment to support research in financial economics at Acadia University.

The endowment's goal is to make annual contributions to the research budget of the School of

Business at the beginning of each academic year, and the contributions will increase at the rate of

inflation of two percent. Suppose that today is October $1,2015$ and your endowment transfers its first

payment of $$4,000$ today. You anticipate that the endowment can earn a four percent return on its

invested funds.

A$.$ This is a$($n$)$

B$.$ The present value of this plan is