Question: Khalil will need $11,490 per year for four years to pay for tuition. How much will Khalil's parents have to invest at the end of

Khalil will need $11,490 per year for four years to pay for tuition. How much will Khalil's parents have to invest at the end of each year for the 7 years before he begins his studies if their savings earn compound interest at 9 percent per year?

Assume the tuition payments occur at the end of each year.

(Round answer to 2 decimal places, e.g. 125.12. Do not round your intermediate calculations.)

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