You have graduated college and you have become incredibly wealthy, probably beca

Question

You have graduated college and you have become incredibly wealthy, probably because of this course. You want to make an endowment to NJIT. You want the university to use the money to award $50,000 in scholarships to deserving students every year, indefinitely (i.e., forever). However, the scholarships will not start being paid until exactly five years from now. What lump sum must be donated to the university today, if the endowment will earn 10% interest every year, forever? (Hint: Carefully draw a cash flow diagram) PLEASE SHOW ME HOW YOU GOT THIS(RIGHT ANWER).. THIS QUESTION IS WORTH ALOT OF POINTS, THANK YOU

Explanation / Answer

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