2. You plan to send your daughter to college in two years. You want to be able

2. You plan to send your daughter to college in two years. You want
to be able to pay the first year in cash. She will start college in
two years. The amount is expected to be $16000. You will buy a 2-year
CD that pay 4.75%. How much must you put in the CD?3. You recently purchased a quilting machine for $3600. You paid
for it with a signature loan that charges 5%. The cash flows from it
are expected to be $1500 per year for 5 years. The loan will be apid
off in 5 years. The warranty is 4 years. At the 5-year mark the
machine will have a value of 0 and will sold. Ignore salvage value on
this problem. What is the NPV of this?