Question: The Answer should be $55,337 please explain how to get there thank you in advance 4) Present value of an annuity (and present value of

The Answer should be $55,337

please explain how to get there

thank you in advance

4) Present value of an annuity (and present value of a single cash flow). 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 today

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