The semiannual tuition payment at a major university is expected to be $35,000 for the 4 years beginning 18 years from now. What lump sum payment should the university accept now, in lieu of tuition payments beginning 18 years, 6 months from now? Assume that money is worth 6%, compounded semiannually, and that tuition is paid at the end of each half-year for 4 years. (Round your answer to the nearest cent.) $ 245689.23 x Need Help? Read It Master It 23. [0/0.25 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.4.051. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Danny Metzger's parents invested $1900 when he was born. This money is to be used for Danny's college education and is to be withdrawn in four equal annual payments beginning when Danny is age 19. Find the amount that will be available each year, if money is worth 5%, compounded annually. (Round your answer to the nearest cent.) $ 1228.11 Need Help? Read It