In order to help my two children out when they go to college,I want them to each have $20000 at the time they enroll. My daughter Payton will head to college in 3 years and my son Tom will go to college in 7 years. My daughter Payton will head to college in 3 years and my son Tom will go to college in 7 years. My investment account earns 5% compounded semi-annually.

1. How much I need to invest for Payton, today?

2. How much I need to invest for Tom, today?

3. What is the total amount that I need to invest today?

Value of Payment 1 today=

Value of payment 2 today=

net present value today=