Question
Assume the total cost of a college education has equal chances of being $250,000, $280,000, $300,000 or $310,000 when your child enters college in 22
Assume the total cost of a college education has equal chances of being $250,000, $280,000, $300,000 or $310,000 when your child enters college in 22 years. You presently have $35 000 to invest. What annual rate of interest must you earn on your investment to cover the expected cost of your child's college education?
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
8th edition
013342362X, 978-0133423624
