Question
Dr. I. N. Stein has just invested $6,250 for his son (age one). The money will be used for his sons education 17 years from
Dr. I. N. Stein has just invested $6,250 for his son (age one). The money will be used for his sons education 17 years from now. He calculates that he will need $50,000 for his sons education by the time the boy goes to school. What rate of return will Dr. Stein need to achieve this goal?
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
11th Canadian Edition
1259024970, 978-1259265921
