1 - Time Value of Money -11 III Question 6 of 8 View Policies Current Attempt in Progress Abe will need $20,000 per year for four years to pay for tuition. How much will Abe's parents have to invest at the end of each year for the 8 years before he begins his studies if their savings earn compound interest at 6 percent per year? Assume the tuition payments occur at the end of each year. (Round answer to 2 decimal places, eg. 125.12. Do not round your intermediate calculations.) Annual savings e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 25% score reduction after attempt 1