Question
If your parents starting investing a dollar a day, the day you were born, for a college fund for you to use when you were
If your parents starting investing a dollar a day, the day you were born, for a college fund for you to use when you were 18 years old, how much money would you have per year for your college fund? So here are some other things you should know. 1) Assume that you will make 9% APR on that money (average of the stock market), 2) Assume they stopped investing on your 18th birthday. 2) Assume that when you turn 18 you will take out 2 equal payments a year (one at the beggining of the year, one at mid-year) for 4 years for your college tutition. 3) At the end of the 4 year college career, you shoudl have no money left in the account.
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