Question
Your cousin is currently 10 years old. She will be going to college in 8 years. Your aunt and uncle would like to have $90,000
Your cousin is currently 10 years old. She will be going to college in 8 years. Your aunt and uncle would like to have
$90,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.3 %
peryear, how much money do they need to put into the account today to ensure that they will have $90,000 in 8 years?
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Public Finance and Public Policy
Authors: Jonathan Gruber
5th edition
1464143331, 978-1464143335
