A Philanthropist Wishes to Endow a Scholarship of $10 000

A philanthropist wishes to endow a scholarship of $10 000 per year for the next 20 years.The scholarship will be paid out of a trust fund at the end of each year,with the first payment occurring one year from now.How much would the philanthropist need to donate to the trust fund today if it is expected to earn 9% per annum?

A) $200 000.00
B) $93 315.45
C) $99 501.15
D) $91 285.46