You are planning to start graduate school in three years. Your first year tuition is $...
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You are planning to start graduate school in three years. Your first year tuition is $ 15,000 to be paid at t-3 and your second year tuition is $18,000 to be paid at t=4. Estimate the amount of money you need to invest today in a mutual fund yielding 5% to cover your future tuition expenses. O $27,190 O$28,521 O $28,665 O $27.766 You are planning to start graduate school in three years. Your first year tuition is $ 15,000 to be paid at t-3 and your second year tuition is $18,000 to be paid at t=4. Estimate the amount of money you need to invest today in a mutual fund yielding 5% to cover your future tuition expenses. O $27,190 O$28,521 O $28,665 O $27.766
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Answer rating: 100% (QA)
The present value of the tuition payments can be calculated using the following formula ... View the full answer
Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
Posted Date:
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