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Question 6 of 7 David purchased an annuity that had an interest rate of 3.75%...

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Question 6 of 7 David purchased an annuity that had an interest rate of 3.75% compounded semi-annually. It provided him with payments of $3,000 at the end of every month for 3 years. If the first withdrawal is to be made in 4 years and 1 month, how much did he pay for it? $0.00 Round to the nearest cent Question 7 of 7 A college plans to set up an endowment fund that will provide a scholarship of $4,500 at the end of every quarter, in perpetuity. How much should the college invest in the fund, if the fund earns 4.25% compounded quarterly? $0.00 Round to the nearest cent

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