A company needs to set up a fix fund to meet a series of future liabilities made up by: £5968 paid at the beginning of each month for years 1 to 3 (inclusive) and then £17934 paid at the beginning of every 6 months for years 9 to year 18 (inclusive). Assuming that the monthly effective rate of interest is 6.0% for the entire period, calculate the amount of money that should be invested in the fund now to cover these liabilities. Express your answer in £s to 2 decimal places. (correct answer = 92719.50)

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