John has 2 grandchildren and he wants to give them something to remember him by when he dies. He wants to set up a fund that will pay each of them $1,000 per month forever starting when they turn 18. If one of his grandchildren is 17 and the other is 14, what total amount does he need to invest today? Assume a discount rate of 8% per year.

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QUALEY CONSULTING SALES BY SERVÍCE Row Labels Brand positioning Brand research Digital marketing Market assessment $11,845 $21,975 $61,600 Marketing plan Target marketing Grand Total Q1 Q4 Annual $15,810 $15,740 $52,310 $10,985 $10,890 $36,045 $15,890 $15,180 $61,905 $22,740 $20,715 $74,495 $10,790 $22,425 $64,090 $88,060 $106,925 $350,445 QUALEY CONSULTING SALES BY SERVÍCE Row Labels Brand positioning Brand research Digital marketing Market assessment $11,845 $21,975 $61,600 Marketing plan Target marketing Grand Total Q1 Q4 Annual $15,810 $15,740 $52,310 $10,985 $10,890 $36,045 $15,890 $15,180 $61,905 $22,740 $20,715 $74,495 $10,790 $22,425 $64,090 $88,060 $106,925 $350,445

Answer rating: 100% (QA)

ANSWER ATTACHED IMAGE Step 1 Annual payment P 1000 Pe... View the full answer