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A man donated a certain amount on a trust fund that will provide an end...

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Accounting

A man donated a certain amount on a trust fund that will provide an end of the month scholarship grantee for poor deserving students for a period of 10 years. This amount earns an interest rate of 8% compounded monthly. The scholarship amounts to P15,000 every month and the first grant is to be given three years after donation.

A. What was the amount of the actual donation?

B. How much amount of money will be still available on the trust fund, seven years after the beginning of scholarship program?

C. How much total amount was already granted by the program to its scholars for its half-period of operation?

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