As a new parent, you would like to start setting aside some money to pay for your

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As a new parent, you would like to start setting aside some money to pay for your child's college tuition costs in the future. You estimate that you will need a total of $100,000 in eighteen years to cover everything. If you can set aside and invest $2,000 per year, what yearly rate of return must you earn to meet your goal?

Posted Date: May 13, 2024 02:55 AM

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As a new parent, you would like to start setting aside some money to pay for your

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To calculate the required yearly rate of return you can utilize the future value of a series formula ... View the full answer

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