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HOW TO SOLVE IN EXCEL PLEASE AND THANK YOU Peter wants to establish a college fund for his son, who is 4 years old. Peter
HOW TO SOLVE IN EXCEL PLEASE AND THANK YOU
Peter wants to establish a college fund for his son, who is 4 years old. Peter plans on a private college that costs, in today's dollars, $30,000 annually. He expects college expenses to increase at a rate of 6%. He thinks that the money can be invested at 7.5%. What fixed amount does Peter need to contribute each month in order to have saved the full cost of all four years of his son's college education by the time his son begins his freshman year of college 14 years later at age of 18? (1 point)Step by Step Solution
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