Question
Eighteen years from now I will need to have $120,000 to pay for my childs post-secondary education. I anticipate being able to earn 14% compounded
Eighteen years from now I will need to have $120,000 to pay for my childs post-secondary education. I anticipate being able to earn 14% compounded annually for the first 10 years and 11% compounded annually for years #11 through #20. What amount of money should I invest today in order to meet my goal? A) $14,046 B) $16,380 C) $21,750 D) $29,600 E) $30.790
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Managerial Finance Essentials
Authors: Charles O. Kroncke, Alan E. Grunewald, Erwin Esser Nemmers
2nd Edition
0829901590, 978-0829901597
