UESTION 1 [15 MARKS] child 1.1 Assume the total cost of a tertiary education will be R105 000 when your c enters university in 16 years. You presently have R15 000 to invest. What rate of interest must you earn on your investment to cover the cost of your child's tertiary education? (5) for you that will pay you R150 000 when you turn 21 years. If the relevant discount 1.2 Suppose you have celebrated your 19th birthday. A rich uncle set up a trust fund rate is 15 percent, how much is the fund worth today? (5) withdraw 1.3 You plan to make a series of deposits in an interest bearing account. You will deposit R1000 today, R2000 in two years, and R8000 in five years. If you R3000 in three years and R5000 in seven years, how much will you have after eight years if the interest rate is 9%? (assume annual compounding). (5)