Annette has two children whose names are Max and Alice. Max will enter the college in next
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Annette has two children whose names are Max and Alice. Max will enter the college in next three years. The tuition fee for Max is 75,000 per semester which will be paid at the beginning of each semester for four years. Alice will enter the college in the next four years. The tuition fee for Alice is 80,000 per semester which will be paid at the beginning of each semester for six years. If the interest rate is 4.5% annually, how much Annette has to deposit today in order to pay all her children's tuition fee in the future?
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