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TVM ROW 5. Your parents very nicely set up a scholarship fund for your younger sibling when your sibling was a small baby. Assume your
TVM ROW 5. Your parents very nicely set up a scholarship fund for your younger sibling when your sibling was a small baby. Assume your sibling is just beginning college and is 18. Your sibling would like to have the cash flows distributed in increments of $2,000 every month for the next four years. In order for your sibling to fully fund all four years of college, how much must be in the scholarship fund today, assuming the interest rate if 5%
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