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It is 2017. My 2-year old daughter wants to go to Harvard (a private U.S. university) starting in 2033 (in 16 years time). The tuition
It is 2017. My 2-year old daughter wants to go to Harvard (a private U.S. university) starting in 2033 (in 16 years time). The tuition fee is estimated to be $250,000. How much do I need to put aside starting one month from today and at the end of every one month until I have $250,000 saved up to pay her tuition fees in 2033? Assume I can earn 1% interest per month in my investment account. Please round your answer to two decimal places.
a. | $2,934.31 | |
b. | $6,555.22 | |
c. | $14,486.15 | |
d. | $434.31 | |
e. | $1,302.08 |
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