4-24 To complete your last year in business school and then go through law school, you will need $10,000 per year for 4 years, starting next year

4-24To complete your last year in business school and then go through law school, you will need $10,000 per year for 4 years, starting next year (that is , you will need to withdraw the first $10,000 one year from today). Your rich uncle offers to put you through school, and he will deposit in a bank paying 7% intrest a sum of money that is sufficient to provide the 4 paymenyts of $10,000 each. His deposit will be made today.1.