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Suppose you want to provide for the college education of your son. He will begin college six years from now, and you wish to have

Suppose you want to provide for the college education of your son. He will begin college six years from now, and you wish to have $15,000 available for him at the beginning of each year in college. How much must be invested today at a 12 percent annual rate of return in order to provide the 4-year, $15,000 annuity for your son? Question 12Answer a. $45,555 b. $45,560.24 c. $23,082.24 d. $28,973

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