Question
The survey estimates the current average cost of college to be $34,197 per year. (a) If the average cost of college increases by % 5.7
The survey estimates the current average cost of college to be $34,197 per year.
(a) If the average cost of college increases by % 5.7 each year, what will be the average cost of college years from now?
(b) If a savings plan offers a rate of %4.3 compounded continuously, how much should be put in the plan now to pay for 1 year of college 13 years from now?
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a Let the number of years from now n The future value of college fees with a constant growt...
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
