What is the size of each scholarship if the first one is awarded on September 1, 2016? Need well explained answer, please do not use excel.

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An Allied Health Scholarship fund wants to insure that it can provide $50,000 annually in scholarships forever  How much money would have to be reinvested each year at 8% interest to generate the funds for the scholarships?

Y University received a contribution to its endowment fund of $ 5 million. It can never touch the principal but can use the earnings. At an interest rate of 5 percent, how much can the college earn to help its operations each year?

The Cooper Foundation contributes $25,000 per year into an annuity fund for building a new zoo. The fund earns 7.5% interest. Find the amount in the fund at the end of 10 years. (Round your final answer to two decimal places.)

Solve by using the sinking fund or amortization formula. Betty Price purchased a new home for $245,000 with a 10% down payment and the remainder amortized over a 15 year period at 9% interest. (a) What amount (in $) did Betty finance? $  (b) What equal monthly payments (in $) are required to amortize this loan over 15 years? (Round your answer to the nearest cent.) $  (c) What equal monthly payments (in $) are required if Betty decides to take a 20 year loan rather than a 15 year loan? (Round your answer to the nearest cent.) $

How much must be deposited today into the following account in order to have a $135,000 college fund in 11 years? Assume no additional deposits are made. An account with quarterly compounding and an APR of 7.32% $ should be deposited today. (Do not round until the final answer. Then round to the nearest cent as needed.) Enter your answer in the answer box. Type here to search 0 哥 同

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A $1.2 million state lottery pays $5,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 8%, compounded monthly? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. (b) Solve the problem. (Round your answer to the nearest cent.)