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Alan and Angel Young both 36 years old My Young recently accepted a job making $93K a year Mrs. Young currently unemployed Two children (ages

Alan and Angel Young both 36 years old

My Young recently accepted a job making $93K a year

Mrs. Young currently unemployed

Two children (ages 4 & 2)

Calculate the PV of each childs college education (Use real vs nominal approach) Current cost of education $35K in todays dollars with expected 5% inflation. Expect children in school six years each and expect rate of return 8.5%

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