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5) After graduating from college you make it big — all because of your success in...

5) After graduating from college you make it big — all because of your success in business finance. You decide to endow a scholarship for needy finance students that will provide $5000 per year indefinitely, beginning 1 year from now. How much must be deposited today to fund the scholarship under the following conditions.

5a. The interest rate is 10%
5b. The interest rate is 10% and the first payment is made 6 years from today instead of 1 year from today.
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