You just establish a college fund for your 2-year-old son who will be ready for college in 15 years. You can only afford to put $3,800 per year into the fund and it is estimated that the cost of education will be $150,000 by then. The interest rate is 6%. Given this information, Will you be able to attain the college cost for your son in 15years? If not, how many years will it take you to attain the desired objective?You just establish a college fund for your 2-year-old son who will be ready for college in 15 years. You can only afford to put $3,800 per year into the fund and it is estimated that the cost of education will be $150,000 by then. The interest rate is 6%.

Given this information, Will you be able to attain the college cost for your son in 15years?
If not, how many years will it take you to attain the desired objective?

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