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A wealthy businesswoman promises a kindergarten class that she will pay 4 years of college tuition of any child who graduates in 13 years.
A wealthy businesswoman promises a kindergarten class that she will pay 4 years of college tuition of any child who graduates in 13 years. The annual tuition to be paid in 13 years is expected to be $35,000, and it will increase by 3% per year. The return on her investments is 9% per year. What is the value of her promise to each child today?
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To calculate the future value of the annual tuition payments in 13 years Well use the formula ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
