You want to endow a scholarship that will pay $13000 per year forever, starting one year from now. if the school's endowment discount rate is 6%, 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?

The answer of the exercise is attached in the microsoft excel document.

Explanation:

There are two images attached. The first one has the answers, and the second one have the operations displayed and necessary to obtain the results demanded.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.