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Adam and Bryan have three children and $100,000 to invest. They decided that each kid should receive the same amount of money (Call that X)
Adam and Bryan have three children and $100,000 to invest. They decided that each kid should receive the same amount of money (Call that X) when they turn 22. They invest $100,000 to be divided among their three children. At the time of investment the children are 18, 15, and 10, so the first kid will receive the money in 4 years, the second one in 7 years, and the third one in 12 years. How much will kids receive at 22 if the money remains in an account paying 5% compounded semi-annually? Make sure you draw the timeline for this
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