Question: B. You Have To Pay $13,000 A Year In School Fees At The End Of Each Of The Next Nine Years. If The Interest Rate Is 11%, How Much

b. You have to pay $13,000 a year in school fees at the end of each of the next nine years. If the interest rate is 11%, how much do you need to set aside today to cover these bills? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value 71,983 60 c. You have invested $117,000 at 11%. After paying the above school fees, how much would remain at the end of the nine years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Future value $ 115,153.75