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Hi Lecturer
Please help me with this query below. I tried to use tables not sure discount factors or annuity.
How much does an organisation that is providing a bursary for an engineering student
need to invest at the beginning of the student’s first year to be able to pay the fees for
the entire course from this amount plus interest earned. Assume the fees start at
R40 000 and rise by 8% each year. The lump sum can be invested at 12%
compounded annually. Assume the student will take 5 years to complete the course.You need to calculate the present value of the fees at 12%
(I don’t understand how you have the question but not the answer. If your book does not have answers then you really should be using a different book 🙂 )
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