Question
Assume the total cost of a university education will be $180,000 when your child enters university in 5 years. You presently have $145,000 to invest.
Assume the total cost of a university education will be $180,000 when your child enters university in 5 years. You presently have $145,000 to invest. What annual rate of interest (APR) must you earn, if the interest is compounded semi-annually? Enter your answer as a percentage.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
