1.) What is the present value of $1,866,390.00 given an interest rate of 8.00% compounded tri-annually for 23 years?

a. $1,481,600.56

b. $317,874.74

c. $303,647.38

d. $1,525,374.65

2.) Lesley Vanorder plans to send their kids to college in 6 years and will need another $218,780.00 before they can do so. Given an interest rate of 3.00% compounded semi-annually, how much money do they need to set aside today?

a. $206,221.13

b. $209,223.03

c. $183,224.81

d. $182,984.84