Question
Monte wants to save for his daughters college education. He would like to have $85,000 in 15 years. If Monte can earn an average of
Monte wants to save for his daughters college education. He would like to have $85,000 in 15 years. If Monte can earn an average of 8.5% on this fund, how much would he need to deposit in the account today to meet his goal?
B. If Monte has no money to set aside now but wants to save at the end of each month for his goal, how much would he need to add to the account each month?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
