Hi, please i need assistance with this question below. And thank you in advance

PART TWO

A father is planning a savings program to put his daughter through college. His daughter is now 13 years old. She plans to enroll at the university in 5 years, and it should take her 4 years to complete her education. Currently, the cost per year is K12, 500, but a 5 percent annual inflation rate in these costs is forecasted. The daughter recently received K7, 500 from her grandfathers estate; this money, which is invested in a bank account paying 8 percent interest, compounded annually, will be used to help meet the costs of the daughters education. The remaining costs will be met by money the father will deposit in the savings account. He will make 6 equal deposits to the account, one deposit at end of each year from now until his daughter starts college. These deposits will begin today and will also earn 8 percent interest compounded annually.

Required:

• Calculate the present value of the costs of the daughters 4 years of education at the time the daughter becomes 18 years (7marks)
• What will be the value of the k7, 500 that the daughter received from her grandfathers estate when she starts college at age 18? (4 marks)
• If the father is planning to make the first 6 deposits today, how large must each deposit be for him to be able to put his daughter through college? (4 marks)