Question: Answer reads as $6,270.34/ year please explain why this is the answer thank you in advance 7) Future value and present value of annuities. Your

Answer reads as $6,270.34/ year

please explain why this is the answer

thank you in advance

7) Future value and present value of annuities. Your newborn son, Jack, will start attending Cornell University 18 years from now. Fees will be $67,613 per year for four years. Assuming the interest rate is 8.5%, how much do you have to save per year over the next 17 years if you start saving in one year

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