1 point Future cost of her studies () Number of periods (years) Interest rate Deposit () 40,000 18 4% 4.000 Niels will become a father next week and he is thinking of investing to support the academic studies of his daughter. He wants to have 40,000 in 18 years. He found a bank that offers an interest rate of 4% per annum and he has 4,000 right now to deposit in the bank account. How much per year does he at least need to contribute to this investment in order to meet his objective? 1,243.8 1,559.7 1.150.7 1,098.8