Present Value of a Single Sum The Millers would like to have a $30,000 education fund for their son Vincent, who is now three years old, and the same amount for their daughter, Takara, who has just turned one. The Millers expect that their children will start university when they are 20 years of age. Question Self-Test Exercise 10.4.1 Homework = Unanswered Fill in the Blanks Type your answers in all of the blanks and submit x x22 How much will the Millers have to invest today (in one lump sum) if the registered education savings plan guarantees a 7% annual interest rate free from any income tax