Day 45

Task:

You manage the scholarship endowment for a small college's engineering department. Three named funds each pay a fixed amount to a recipient every year for a set number of years, and each fund earns its own annual interest rate while the money sits invested. In E2, work out how much needs to be deposited into the fund today so it fully covers its payouts, using PV, then copy down through E4. In E5, total the three deposits, so the department knows how much it needs to raise before any of the funds can open.