Question: I need an answer to this financial problem, An elite law school will charge you $38,700.00 for your first year of tuition. This is due

I need an answer to this financial problem, An elite law school will charge you $38,700.00 for your first year of tuition. This is due at the beginning of the year. You anticipate tuition to increase by 4.00% each year going forward. You will spend three years in the law program. You are unsure what discount rate to use to value the opportunity. You have a conservative discount rate, 5.00%, and an aggressive rate of return, 8.00%. Using the aggressive rate of return, what is the value today of your law school tuition?

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