Question
Assume the total cost of a college education will be $300,000 when your child enters college in 18 years. You presently have $63,000 to invest.
Assume the total cost of a college education will be $300,000 when your child enters college in 18 years. You presently have $63,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?
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Essentials of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
9th edition
978-1259277214
