Question
Assume the total cost of a college education will be $200,000 when your child enters college in 16 years. You presently have $55,000 to invest.
| Assume the total cost of a college education will be $200,000 when your child enters college in 16 years. You presently have $55,000 to invest. |
| What annual rate of interest must you earn on your investment to cover the cost of your childs college education? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
| Annual rate of interest | % |
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Behavioral Finance And Investor Types
Authors: Michael M. Pompian
1st Edition
1118011503, 978-1118011508
