Question
Ana is planning for her son's college education.He will go to college 8 years from today and will require $20,000, $23,000, $26,000, and $29,000 at
Ana is planning for her son's college education.He will go to college 8 years from today and will require $20,000, $23,000, $26,000, and $29,000 at the beginning of each year in school.If Ana currently has $30,000 that can be used to meet this obligation, what is the equal annual amount she must invest at the end of each of the next 8 years to provide sufficient money for her son's college education?Assume Ana can earn a return of 7% per year on her investment.
FINANCIAL CALCULATOR
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
