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Assume the Coopers have 3 children. Brad, age 10 Beau, age 5 Blaire, age 2, ,Amy, their mother, has asked you what lump-sum would need
Assume the Coopers have 3 children. Brad, age 10 Beau, age 5 Blaire, age 2, ,Amy, their mother, has asked you what lump-sum would need to be invested today to fund the childrens future college costs. She asked you to assume each child will begin college at age 18 and graduate in four years. Assume current costs are $23,000 per year and are expected to increase by 4% per year. Any inherited funds will not be considered for college funding at this time. The Coopers would like you to use the 7% investment return assumption
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