1. You want to endow a scholarship that will pay$12,000per year​ forever, starting one year from now. If the​ school's endowment discount rate is5%​,what amount must you donate to endow the​ scholarship? How would your answer change if you endow it​ now, but it makes the first award to a student 10 years from​ today?Question content area bottom Part 1In the first​ case, the amount you must donate today is​$enter your response here. ​(Round to the nearest​ cent.)
2. What is the present value of$4,000paid at the end of each of the next76years if the interest rate is12%per​ year?
3. Assume that your parents wanted to have$180,000saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned2.0%per year on their investments.
a. How much would they have to save each year to reach their​ goal?
b. If they think you will take five years instead of four to graduate and decide to have$220,000saved just in​ case, how much would they have to save each year to reach their new​ goal?