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You has two children. They are two years apart in age; one will begin college 10 years from now and the younger one will begin
You has two children. They are two years apart in age; one will begin college 10 years from now and the younger one will begin 12 years from now. The estimated college expense will be 65,000 per year per child, payable at the beginning of each school year. Assume the interest rate is 8% and each child will take 4 years to finish the college education. How much money must you deposit in a saving account each year to finance his childrens education? Need to show all work answering this question.
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