Question
Tuition today is $15,000 and growing at 4%. Your kid enters college in 18 years, into a 4 year program. Payments are made at the
Tuition today is $15,000 and growing at 4%. Your kid enters college in 18 years, into a 4 year program. Payments are made at the beginning of each year.
a.) At 7% compounded annually, how much must you deposit today? (interest paid at the end of the period)
b.) How much is the total tuition payment?
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Cost Accounting A Managerial Emphasis
Authors: Charles T Horngren
5th Edition
0131796712, 978-0131796713
