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You are saving for the college education of your two children. One will begin college 15 years from today and the other will begin 17
You are saving for the college education of your two children. One will begin college 15 years from today and the other will begin 17 years from today. You estimate your childrens college expenses to be Rs.50,000 per year per child, payable at the beginning of each school year. The annual interest rate is 8%. How much money must you deposit in an account each year to fund your childrens education? Your deposits begin one year from today. Assume four years of college.
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