Question
Eighteen years from now, 4 years of college are expected to cost $150,000. Rounded to dollars and cents, how much more must be deposited into
Eighteen years from now, 4 years of college are expected to cost $150,000. Rounded to dollars and cents, how much more must be deposited into an account today to fund this expense if you can earn only 8% on your savings rather than the 11% you hope to earn?
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PV FV 1 rn where PV present value FV future value r interest rate n number of years ...
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Fundamental Accounting Principles
Authors: John Wild, Ken Shaw, Barbara Chiappetta
22nd edition
9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275
