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Solve in Excel Your daughter will go to a four-year college 10 years from now. You want to make sure you have four years worth
Solve in Excel
Your daughter will go to a four-year college 10 years from now. You want to make sure you have four years worth of education cost 10 years from now. The current annual cost of education is $ 25,000 subject to a 5% annual rate of inflation. The investment opportunity is 10% each year (compounded monthly).
Q 8. Adjusted for the annual rate of inflation, how much do you need 10 years from now? Ignore the years of 19 and after. The correct answer is closer to:
a. $150,000
b. $160,000
c. $162,889
d. More than $163,000
e. Less than $150,000
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