You opened an account to start saving for your child to go to school in $18$ years. The account earns $8\%$ each year. How much money would you need to deposit today in order for the account to be worth $$20,000$ in $18$ years?

Between $$5,000$ and $$6,000$

Between $$4,000$ and $$5,000$

Between $$6,000$ and $$7,000$

Between $$8,000$ and $$9,000$

Question $8$

$2\mathrm{.}31$ pts

If the Net Present Value is $$99,999\mathrm{.}99,$ it will be rejected because it does not meet the minimum NPV to be approved of $$100,000.$

True

False