posted by kerry on .
ok this is the last question i need help on.
Abigail just received an inheritance from her grandfather's estate. She will be entering college in 1 year and is expecting to need $3,000, $5,000, $4,000, and $4,500 respectively at the beginning of each of the 4 consecutive years at school.
If she can get GICs with 4% interest, compounding daily, what principal amount would Abigail need to invest from her inheritance to completely be self-sufficient during these school years? For full marks your answer(s) should be rounded to the nearest cent.