Assume the total cost of a college education will be $320,000 when your child enters college in
Question:
Assume the total cost of a college education will be $320,000 when your child enters college in 18 years. You presently have $50,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
We can use either the FV or the PV formula Both will give the sam...View the full answer
Answered By
Muqadas Javed
I am a mentor by profession since seven years. I have been teaching on online forums and in universities. Teaching is my passion therefore i always try to find simple solution for complicated problems or task grasp them so that students can easily grasp them.I will provide you very detailed and self explanatory answers and that will help you to get good grade. I have two slogans: quality solution and on time delivery.
24+ Reviews
144+ Question Solved
Related Book For 
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Question Posted:
