Dr. Pollard donated $100,000 to the Canadian National Institute for the Blind. The money is to be used to make semi-annual payments in perpetuity (after a period of deferral) to finance the recording of books on tape. The first perpetuity payment is to be made five years from the date of the donation. If the funds are invested at 5% compounded semi-annually, what will be the size of the payments?

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The Answer of Dr. Pollard donated $100,000 to the Canadian National Institute for the Blind. The money is to be used to make semi-annual payments in perpetuity (after a period of deferral) to finance the recording of books on tape. The first perpetuity payment is to be made five years from the date of the donation. If the funds are invested at 5% compounded semi-annually, what will be the size of the payments?

Dr Pollard Donated $100,000 to the Canadian National Institute for the Blind