Assume that you had a child and you are now planning for her collage education. You Would like to make 43 equal payments over the next 21 years (The first payment to be made immediately all other payment to be made at 6 month internals, with the final payment to be made at he 21st. birthday. So that you will be able to cover her expected expenses while in school. You expect to pay expenses on her 18th, 19th, 20th, 21th birthdays.