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Jill has two children, Sydney age 3 and William age 2. Jill wants to provide for their education funding. Currently, tuition is $10,000 per year
Jill has two children, Sydney age 3 and William age 2. Jill wants to provide for their education funding. Currently, tuition is $10,000 per year and tuition inflation is 6%. Jill expects to earn 10% on her investments and she expects the children to start college at age 18 and go to college for 5 years. Jill wants her last savings payment to be made when the oldest child starts college. How much must Jill save at the end of each year? Use uneven cash flow method. Show all the steps.
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