Eighteen years from now I will need to have $120,000 to pay for my childs post-secondary education.

Fantastic news! We've Found the answer you've been seeking!

Question:

Eighteen years from now I will need to have $120,000 to pay for my child’s post-secondary education. I anticipate being able to earn 14% compounded annually for the first 10 years and 11% compounded annually for years #11 through #20. What amount of money should I invest today in order to meet my goal?
A) $14,046
B) $16,380
C) $21,750
D) $29,600
E) $30.790

Posted Date: Oct 25, 2021 07:28 PM

See More Questions

What amount of money paid today is equivalent to $560 paid five months from now if money can earn 10 % per annum?
What amount of money invested now will provide monthly payments of $200 for five years, if the ordinary annuity is deferred for 3 1/2 years and the money earns 7.5% compounded monthly?
What amount of money will accumulate to $1516.80 in eight months at 8%?
Yang Company purchased 2,000 widgets and has 400 widgets in its ending inventory at a cost of $90 each and a current replacement cost of $80 each. The net realizable value of each unit in the ending...
Storage Services Corporation recognizes revenue under the earnings approach. Explain how uncertainty about collectability would affect revenue recognition if Storage prepares financial statements in...
Joanne is a seventy-five-year-old widow who survives on her husbands small pension. Joanne has become increasingly forgetful, and her family worries that she may have Alzheimers disease (a brain...
A bar is sliding along a set of connected conducting rails as shown in Figure P29.37. The bar is given an initial velocity $\vec{v}_{\mathrm{i}}$ to the right and then allowed to move freely. The...
Brady Service Center just purchased an automobile hoist for $35,000. The hoist has an 8-year life and an estimated salvage value of $3,000. Installation costs and freight charges were $3,300 and...
1. 120g of an organic compound that contains only carbon and hydrogen gives 330g of CO2 and 270g of water on complete combustion. The percentage of carbon and hydrogen, respectively are (a) 25 and 75...
Funtime, Inc., manufactures video game machines. Market saturation and technological innovations caused pricing pressures that resulted in declining profits. To stem the slide in profits until new...
Mack offered a state official an all-expense paid moose hunting trip to Saskatchewan simply because Macks and the officials sons played on the same junior hockey team. Mack used company funds for...
Reconsider Problem 30. Determine which insulation (if any) should be purchased based on an incremental present worth analysis. Data from problem 30 Parker County Community College (PCCC) is trying to...
Octavia Bakery is planning to purchase one of two ovens. The expected cash flows for each oven are shown below. MARR is 8 percent/year. a. What is the discounted payback period for each investment?...
Repeat Problem 67 using payback period with no discounting (PBP). a. What is the payback period for this investment? b. If the maximum attractive PBP is 3 years, what is the decision rule for judging...
Quantum Logistics, Inc., a wholesale distributor, is considering the construction of a new warehouse to serve the southeastern geographic region near the AlabamaGeorgia border. There are three cities...
A tax form provided to employees. a. 1099 b. employment a t w ill c. employment c ontract d. employee ha ndbook e. independent contractor f. respondeat superior g. W-2
Money Market Practice 2- Problem set 4.3. I need help with my AP Macroeconomics assignment -draw the correct shift in the money market graph given each scenario. After, draw the impact it has on the...
A. Select a recent issue (paper or online) of Report on Business Magazine, Canadian Business Magazine (online only), Bloomberg Businessweek, Fast Company, The Economist, or another business magazine....
How do managers refine a costing system?
When does product undercosting or overcosting occur?
Family Supermarkets (FS) has decided to increase the size of its Memphis store. It wants information about the profitability of individual product lines: soft drinks, fresh produce, and packaged...

Eighteen years from now I will need to have $120,000 to pay for my childs post-secondary education.

Question:

Expert Answer:

answer D 29600 stsendry edutin refers t n edutin tht ges beynd hi... View the full answer

Students also viewed these finance questions