The cost of a new automobile is $12,000. If the interest rate is 4%, how much would you have to set aside now to provide this sum in four years? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. You have to pay $16,000 a year in school fees at the end of each of the next five years. If the interest rate is 7%, how much do you need to set aside today to cover these bills? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. You have invested $80,000 at 7%. After paying the above school fees, how much would remain at the end of the