Question: You are saving for your childs college fund. You are going to contribute the same amount of money to the fund at the end of

You are saving for your child’s college fund. You are going to contribute the same amount of money to the fund at the end of each year. Your goal is to end up with $100,000. For annual investment returns ranging from 4 percent to 15 percent and the number of years investing varying from five to 15 years, determine your required annual contribution.

Step by Step Solution

3.32 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

To determine the required annual contribution for each combination of investment return and number o... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Microsoft Excel Data Analysis 7th Questions!