a.	The cost of a new automobile is $10,700. If the interest rate is 4%, how much would you have to set aside now to provide this sum in four years?

b.	You have to pay $12,000 a year in school fees at the end of each of the next five years. If the interest rate is 7%, how much do you need to set aside today to cover these bills?

c.	You have invested $60,000 at 7%. After paying the above school fees, how much would remain at the end of the five years?