Acapella University offers to lock-in a student's tuition for a four year period. If tuition is $30,000 per year (payable at the end of each year) and the interest rate is currently 8%, what amount of money now would enable you to withdraw the $30,000 figure at the end of each of the next four years?

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The Answer of Acapella University offers to lock-in a student's tuition for a four year period. If tuition is $30,000 per year (payable at the end of each year) and the interest rate is currently 8%, what amount of money now would enable you to withdraw the $30,000 figure at the end of each of the next four years?

Acapella University Offers to Lock-In a Student's Tuition for a Four