Question
Problem 3 - Present Value of Savings Account A father has decided to set aside a one time lump sum for college that will amount
Problem 3 - Present Value of Savings Account
A father has decided to set aside a one time lump sum for college that will amount to $60,000 by the time
his 5 year old is 18 years old (13 years). Using 8% as the rate and assuming no further investments will be made,
how much must the father invest today in order to have $60,000 in 13 years?
Rate
8.00%
Nper
13
PMT
0
FV
$60,000.00
Type
0
PV
$22,061.88
Problem 3 - Present Value of Savings Account | ||||||||
A father has decided to set aside a one time lump sum for college that will amount to $60,000 by the time | ||||||||
his 5 year old is 18 years old (13 years). Using 8% as the rate and assuming no further investments will be made, | ||||||||
how much must the father invest today in order to have $60,000 in 13 years? | ||||||||
Rate | 8.00% | |||||||
Nper | 13 | |||||||
PMT | 0 | |||||||
FV | $60,000.00 | |||||||
Type | 0 | |||||||
PV | $22,061.88 | |||||||
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Civil Procedure
Authors: Stephen C. Yeazell, Joanna C. Schwartz
10th Edition
1454897880, 978-1454897880
