Question
You plan to contribute $2,200 each year to your nephew's college education. He will graduate from high school in 12 years. Interest rates are 6%.
You plan to contribute $2,200 each year to your nephew's college education. He will graduate from high school in 12 years. Interest rates are 6%. Calculate how much money you should have saved for him by the time he is ready to go to college using the following methods:
a. Reference table.
b. Financial calculator
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Fundamentals of Futures and Options Markets
Authors: John C. Hull
8th edition
978-1292155036, 1292155035, 132993341, 978-0132993340
