It will cost $20,000 a year for four years when an 8-year-old child is ready for college.

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It will cost $20,000 a year for four years when an 8-year-old child is ready for college. How much should be invested today if the child will make the first of four annual withdrawals 10 years from today? The expected rate of return is 8%.

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Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: Dec 16, 2023 08:10 AM

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It will cost $20,000 a year for four years when an 8-year-old child is ready for college.

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To calculate the present value of the future college costswe can use the formula for a geometri... View the full answer

Financial Accounting and Reporting a Global Perspective

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