Question
Franklin Templeton has just invested $9, 260 for his son (age one). This money will be used for his son's education 18 years from now.
Franklin Templeton has just invested $9, 260 for his son (age one). This money will be used for his son's education 18 years from now. He calculates that he will need $71,231 by the time the boy goes to school. What rate of return will Mr. Templeton need in order to achieve this goal?
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
15th edition
134796551, 134796550, 978-0134796550
