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please answer both questions d) The Allesons are saving money to send Johnny to University of Limpopo They estimate that when Johnny enters university six
please answer both questions
d) The Allesons are saving money to send Johnny to University of Limpopo They estimate that when Johnny enters university six years from today, they should be prepared to pay R9 000 per year for each of the four years, with each year's tuition payable at the beginning of each school year. They expect to earn 5% on the savings. (i) How much must they deposit today in the account in order to satisfy the estimated tuition? (6) (ii) How much must they deposit each year, beginning one year from today, into the account if they intend to make the last deposit the year prior to Johnny entering UniversityStep by Step Solution
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