QUESTION $2[4]$ Ms Gina May Sithole, a very successful South African business woman, has a net worth of R $250$ million. She is very passionate about sport and would like to make scholarships available to deserving young athletes. She approached UJ$,$ who provided her with the following average annual costs for a student to enrol for an undergraduate degree: $$ Registration fees and levies: R$2,250\mathrm{.}00$ Class fees: R$30,500\mathrm{.}00$ Residence fees: R $11,250\mathrm{.}00$ Textbook fees: R $3,500\mathrm{.}00$ Provision for food: R $18,000\mathrm{.}00$ Provision for travel: R $12,250\mathrm{.}00$ Pocket money: R $7,250\mathrm{.}00$ UJ predicts that this amount will not change in the future, due to expected Government subsidies. Ms Gina May Sithole would like to award scholarships to $10$ deserving students every year, indefinitely. $2\mathrm{.}1$ What is the estimated average annual cost, including all the provisions listed above, for one undergraduate student to enrol at UJ$?[1]$ FINAL ANSWER $2\mathrm{.}2$ How much capital does Ms Gina May Sithole have to set aside every year in order to provide scholarships for $10$ deserving students, based on the result from $2\mathrm{.}1$ above? $[1]$ FINAL ANSWER $2\mathrm{.}3$ How much capital must Ms Gina May Sithole invest with Pinnacle Commercial Bank, if they would provide an interest rate of $6\%,$ compounded annually, indefinitely, in order to provide scholarships indefinitely? $[2]$ FINAL ANSWER