Problem 1) Hiva's son now is 16 years old (Early 16). Hiva wants to invest...
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Problem 1) Hiva's son now is 16 years old (Early 16). Hiva wants to invest today to assure adequate funds for his son's college education. He estimates that his son will need $20,000 at the end of eighteen years, $25,000 at the end of nineteen years, $30,000 at the end of twenty years, and $40,000 at the end of twenty-one years. How much does Hiva have to invest in the Kurdistan Bank today if the bank gives about 5% interest rate
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