1. You have to pay $12,000 a year in school fees at the end of each of the next six years. If the interest rate is 8%, how much do you need to set aside today to cover these bills?
2. You have invested $60,476 at 8%. After paying the above school fees, how much would remain at the end of the six years?

Answer rating: 100% (QA)

1 2 a PV 10000 1055 783526 assuming the cost of the car does not appre... View the full answer