Question: Nate is saving for his son's college. He expects to need to need 7 annual payments of $22,000 each, with the first annual payment occurring

Nate is saving for his son's college. He expects to need to need 7 annual payments of $22,000 each, with the first annual payment occurring 13 years from today. Ideally, Nate would like to fully fund the entire bill with a single deposit today. If the discount rate is 8%, how much should he deposit?

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=+c. None of the plants is completed by the contract date.

=+d. Only the plant at site 1 is completed by the contract date.

=+e. Exactly one of the three plants is completed by the contract date.