Question
Assume that your parents wanted to have $160,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved
Assume that your parents wanted to have $160,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 8% per year on their investments.
How much would they have to save each year to reach their goal?
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How Finance Works
Authors: Mihir Desai
1st Edition
1633696707, 978-1633696709
