Question
You figure that the total cost of college will be $101,000 per year 18 years from today. If your discount rate is 4% compounded annually,
You figure that the total cost of college will be $101,000 per year 18 years from today. If your discount rate is 4% compounded annually, what is the present value today of four years of college costs starting 18 years from today?
A. $173,674
B. $188,213
C. $192,844
D. $199,405
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Finance Applications And Theory
Authors: Marcia Millon Cornett, John R. Nofsinger, Troy Adair
3rd International Edition
1259252221, 9781259252228
