Your daughter is currently twelve years old. You anticipate that she will be going to college in
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Your daughter is currently twelve years old. You anticipate that she will be going to college in six years. You would like to have $127,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 5% per year, how much money do you need to put into the account today to ensure that you will have $127,000 in six years?
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Related Book For
Corporate Finance The Core
ISBN: 9781292158334
4th Global Edition
Authors: Jonathan Berk, Peter DeMarzo
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