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19. Joseph will start school on 9/1/14. He is expected to attend school for four years and will need to pay tuition of $50,000 on
19. Joseph will start school on 9/1/14. He is expected to attend school for four years and will need to pay tuition of $50,000 on September 1st of each year. His uncle wants to make an investment on 9/1/10 that will provide sufficient funds for four years of tuition. Assuming he can earn 5% annually, how much must invest on 9/1/10. Choose the closest answer
A. $27,282 B. $37,976 C. $104,167 D. $200,000 E. $153,156
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