You estimate that it will take five years to complete your college education. Your parents want to invest enough money today at an interest rate of 8% compounded annually to allow you to withdraw $18,000 at the end of each year for the next five years, with nothing left at the end. The amount of money to invest today is:

Use appendixTable 1,Table 2,Table 3andTable 4.

Multiple Choice

• $71,874.
• $65,994.
• $26,450.
• $90,000.
• None of the answers is correct.