9 stment earning 4 per- 11. Funding a college goal. Jeremiah Wood wants to set up a fund to pay for his daughter's edu- cation. In order to pay her expenses, he will need $23,000 in four years, $24,300 in five years, $26,000 in six years, and $28,000 in seven years. If he can put money into a fund that pays 4 per- cent interest, what lump-sum payment must Jeremiah place in the fund today to meet his college funding goals? 12. Calculating expected futu. 9