When Alfred Nobel died, he left the majority of his estate to fund five prizes, each to be awarded annually in perpetuit

[answerhappygod]

When Alfred Nobel died, he left the majority of his estate to
fund five prizes, each to be awarded annually in perpetuity
starting one year after he died (the sixth one, in economics, was
added later).
a. If he wanted the cash award of each of the five prizes to be
$32,000 and his estate could earn 11% per year, how much would he
need to fund his prizes?
b. If he wanted the value of each prize to grow by 3% per year
(perhaps to keep up with inflation), how much would he need to
leave? Assume that the first amount was still $32,000.
c. His heirs were surprised by his will and fought it. If they
had been able to keep the amount of money you calculated in (b),
and had invested it at 11% per year, how much would they have in
2014, 118 years after his death?