Question: Use the following to answer 1 9 2 0 : You are going to receive a $ 2 0 , 0 0 0 scholarship at

Use the following to answer 1920:
You are going to receive a $20,000 scholarship at the end of 3 years for graduate school.
19. $_________ How much must the scholarship fund invest today so it has the money to pay you in 3
years if it can earn 8% compounded semi-annually (round to nearest dollar)?
20. $_________ How much must the scholarship fund invest today so it has the money to pay you in 3
years if it can earn 8% compounded quarterly (round to nearest dollar)?

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