Assume that you want to send your newborn child to a private college (when he gets to
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Assume that you want to send your newborn child to a private college (when he gets to be 18 years old). The tuition costs are $ 16000/year now and that these costs are expected to rise 5% a year for the next 18 years. Assume that you can invest, after taxes, at 8%. Calculate the amount if you need to set aside a lump sum now or if you need it to set aside as an annuity each year, starting one year from now -
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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