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Danny, your younger brother will start college in five years. He has just informed your parents that he wants to go to Western University, which
Danny, your younger brother will start college in five years. He has just informed your parents that he wants to go to Western University, which will cost $50,000 per year for four years (assumed to come at the end of each year). Anticipating Danny's ambitions, your parents started investing $2,000 per year five years ago and will continue to do so for five more years. Use 12 percent as the appropriate interest rate throughout this problem. Danny is now 18 years old (five years have passed), and he wants to get married instead of going to school. Your parents have accumulated the necessary funds for his education. Instead of his schooling, your parents are paying $30,000 for the upcoming wedding
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