6. You are 16 and know you need $100,000 when you turn 22 (in six years) to...

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6. You are 16 and know you need $100,000 when you turn 22 (in six years) to pay for medical school. In order to have enough savings at that point, how much must you deposit in a college fund today, assuming a 4% annual interest rate?

a. Calculate using the long-hand method.

b. Calculate using the reference table method.

c. Calculate using a financial calculator.

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Personal Finance Building Your Future

ISBN: 9780077861728

2nd Edition

Authors: Robert Walker, Kristy Walker

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Question Posted: Jul 26, 2024 02:01 AM

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6. You are 16 and know you need $100,000 when you turn 22 (in six years) to...

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Personal Finance Building Your Future

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