A mechanical engineer who is anticipating paying for his daughters college education plans to start depositing money
Question:
A mechanical engineer who is anticipating paying for his daughter’s college education plans to start depositing money now (year 0) and continue through year 17. If he deposits $5000 each year, how much will his daughter be able to withdraw each year starting in year 18 and continuing through year 22? Assume the account earns interest at 8% per year.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Basics Of Engineering Economy
ISBN: 9780073376356
2nd Edition
Authors: Leland T. Blank, Anthony Tarquin
Question Posted: