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Question 9 (1 point) You assume you will need $170,000 to pay for your child's college education. The child has just turned 6. How
Question 9 (1 point) You assume you will need $170,000 to pay for your child's college education. The child has just turned 6. How much money would you have to deposit at the end of every month starting today to ensure the availability of this amount by the time the child turns 18? Assume that you can earn an effective interest rate of 10.0% per year. Instructions: Round the result to two decimal places and do not put the "$" symbol in the answer box. For example if you get a result of $563.12837 then write 563.13 in the answer box below. Your Answer:
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