Your brother will begin his education this year. The university tuition is TL37420 per year and paid at the beginning of each of the following 4 years. If you can earn 16.3 percent interest per year on your funds, how much will you need to invest today in order to pay his university education? 101548.97 100400.98 135148.89 142424.02 121049.65

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter13: Investment Fundamentals
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Your brother will begin his education this year.
The university tuition is TL37420 per year and
paid at the beginning of each of the following
4 years. If you can earn 16.3 percent interest
per year on your funds, how much will you
need to invest today in order to pay his
university education?
101548.97
100400.98
135148.89
142424.02
121049.65
Transcribed Image Text:Your brother will begin his education this year. The university tuition is TL37420 per year and paid at the beginning of each of the following 4 years. If you can earn 16.3 percent interest per year on your funds, how much will you need to invest today in order to pay his university education? 101548.97 100400.98 135148.89 142424.02 121049.65
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