Question
Sam Long anticipates he will need approximately $226,200 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would
Sam Long anticipates he will need approximately $226,200 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree.
How much would he have to invest today at an interest rate of 8% compounded semiannually? (Use the Table provided.)
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
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Fundamentals Of Financial Management
Authors: James Van Horne, John Wachowicz
13th Revised Edition
978-0273713630, 273713639
