Answered step by step
Verified Expert Solution
Question
1 Approved Answer
response must be entered as a formula 3 4 5 6 7 8 9 Assume the total cost of a college education will be $320,000
response must be entered as a formula
3 4 5 6 7 8 9 Assume the total cost of a college education will be $320,000 when your child enters college in 18 years. You presently have $67,000 to invest. What annual rate of interest must you eam on your investment to cover the cost of your child's college education? Future value $ 320,000 Years 18 Present value $ 67,000 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started