Suppose you want to save for your child's college education, and you estimate that the total cost
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Question:
Suppose you want to save for your child's college education, and you estimate that the total cost of a four-year college education will be $150,000 in today's dollars. You plan to save for the next 18 years by making annual contributions at the beginning of each year. If the interest rate is 6%, how much must you save each year to accumulate the needed funds?
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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