Question
Assume the total cost of a university education will be $70,000 when your child enters university in 6 years. You presently have $40,000 to invest.
Assume the total cost of a university education will be $70,000 when your child enters university in 6 years. You presently have $40,000 to invest. What annual rate of interest (APR) must you earn, if the interest is compounded semi-annually? Enter your answer as a percentage. Do not include the percentage sign in your answer.
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Introduction To Finance Markets Investments And Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
14th Edition
0470561076, 9780470561072
