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  3. 1. mr dane has three children, ages 1,3 and 6 year

1. Mr Dane has three children, ages 1,3 and 6 years. He hopes that someday...

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Finance

1. Mr Dane has three children, ages 1,3 and 6 years. He hopes that someday his kids will have funds amount to X at age 18 and Y at age 21. For that occasion, Mr Dane invests an amount Z currently. Determine the formula to calculate Z?

2. Andy buys a land property by borrowing money for X IDR to a bank for ten years, and the effective interest rate is 7%. If the principal and interest are paid simultaneously at the end of year 10, he will pay 350 million IDR more than when he pays off by instalment for 10x. How much is X?

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