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Question - Your younger sister, Agnes will start college in one year's time. The college fees will amount to Sh.80, 000 per year for four years payable at the beginning of each year. Anticipating Agnes's ambition, your parents started investing Sh.10, 000 per year five years ago and will continue to do so for five more years. How much more will your parents have to invest for the next five years to have the necessary funds for Agnes's education? Use 10% as the appropriate interest rate?
Financial Statement Analysis and Preparation
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