What is the value of this gift today at a discount rate of, Financial Management

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What is the value of this gift today at a discount rate of

A wealthy benefactor just donated some money to the local college. This gift was established to provide scholarships for worthy students.

The first scholarship will be granted one year from now in the amount of $35,000. Thereafter, one scholarship of the same amount will be granted each year. The scholarship fund will last indefinitely.

What is the value of this gift today at a discount rate of 5% compounded annually?

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Financial Management: What is the value of this gift today at a discount rate of

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Financial Management: What is the value of this gift today at a discount rate of

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