Question: * Your answer is incorrect. A donor sets up an endowment to fund an annual scholarship of $9000. The endowment earns 8% interest per year,

* Your answer is incorrect. A donor sets up an endowment to fund an annual scholarship of $9000. The endowment earns 8% interest per year, compounded annually. Find the amount that must be deposited now if the endowment is to fund one award each year, with one award now and continuing (a) Until twenty awards have been made Round your answer to two decimal places. 176852.81 must be deposited. (b) Forever Round your answer to two decimal places. 1134000.00 must be deposited

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