=+LG 6 E56 Jack and Jill have just had their first child. If they expect that college

Question:

=+LG 6 E5–6 Jack and Jill have just had their first child. If they expect that college will cost

$150,000 per year in 18 years, how much should the couple begin depositing annually at the end of each of the next 18 years to accumulate enough funds to pay 1 year of tuition 18 years from now? Assume they can earn a 6% annual rate of return on their investment.

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Joel mwangi

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