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Question 4 3.75 pts 4. Saving for College. You want to create a college fund for a child who is now 3 years old. The
Question 4 3.75 pts 4. Saving for College. You want to create a college fund for a child who is now 3 years old. The fund should grow to $60,000 in 15 years. If an investment available to you will yield 6% interest per year, how much must you invest in a lump sum now to realize the $60,000 when needed? (Hint: Use Appendix A.2 or visit the Garman/Forgue companion website.) $25,038 $30,092 $10,747 $13,846
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