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35. In about 25 years, you're going to have a kid that wants to go to college. Assume that it cost $80,000 to put a
35. In about 25 years, you're going to have a kid that wants to go to college. Assume that it cost $80,000 to put a kid through college today. Assume also that college tuition will rise at exactly the rate of inflation* (an average annual rate of, say, 5%). It will cost you $279,908.39 to put your kid through college. If you could get an average annual return of 7% on an investment, how much money would you need to deposit each year to reach your goal by the time your kid is ready to go to college
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