Question: Question 18 (1 point) How much would you need to gift to the university today to establish a scholarship fund that pays out $15000 in

Question 18 (1 point) How much would you need to gift to the university today to establish a scholarship fund that pays out $15000 in scholarships in one year and grows the scholarship payout by 3% per year? Assume that the university endowment earns 5% per year on its investments. Your Answer: Answer Question 19 (1 point) Exactly 7 years ago, Carlos deposited $607 into a savings account that has earned 1% annual interest, compounded quarterly. There have been no other deposits and no withdrawals. What is the account balance today? Your Answer Answer Question 20 (1 point)

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