Question one

At the recent workshop of the Kenya Institute of directors,Mr$.$ Knowledge a renown investor in the country expressed grave concern that the directors in the country have lost focus.

In support of hi

Your younger sister will start a post$-$graduate degree in five years time. She has just informed your parents that she wants to go to MKU to study a postgraduate diploma in business administration or her next bext of studying economics at the UoN. The cost of studying at the institutions is sh $400,000$ per annum and its a four year course. Anticipating her ambitions,your parents started depositing sh$\mathrm{.}100,000$ per year five years ago and will continue to do so for five more years.Euity bank pays a $10\%$ interest annually on such deposits.

a$)$ How much more will your parents have to invest for the next five years to have the necessary funds for your sisters education?