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Example 6: What is the present value of the cost of college education for Amita's 4 children ages 1, 3, 5, and 7. The current

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Example 6: What is the present value of the cost of college education for Amita's 4 children ages 1, 3, 5, and 7. The current cost of college is $25,000. The children will begin college at age 18 and be in college for 4 years. Education inflation is expected to be 6% and Amita's portfolio rate of return is 8%. Use the traditional method

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