Question: Use the following to answer 1 9 - 2 0 ; You are going to receive a $ 1 6 , 0 0 0 scholarship

Use the following to answer 19-20;
You are going to receive a $16,000 scholarship at the end of 3 years for graduate school.
$ How much must the scholarship fund invest today so it has the money to pay you in 3
years if it can earn 9% compounded semi-annually (round to nearest dollar)?
$ How much must the scholarship fund invest today so it has the money to pay you in 3
years if it can earn 9% compounded quarterly (round to nearest dollar)?
Use the following to answer 19-20; You are going to receive

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