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Jill would like to plan for her son's college education. She would like for her son, who was born today, to attend college for 5
Jill would like to plan for her son's college education. She would like for her son, who was born today, to attend college for 5 years, beginning at age 18. Tuition is currently $12,000 per year and tuition inflation is 6%. Jill can earn an after-tax rate of return of 9%. How much must Jill save at the end of each year, if she wants to make the last payment at the beginning of her son's first year of college?
$3,145.81 | ||
$3,924.55 | ||
$4,406.75 | ||
$4,854.07 |
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