Jeremiah Wood wants to set up a fund to pay for his daughters education. In order to
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Jeremiah Wood wants to set up a fund to pay for his daughter’s education. In order to pay her expenses, he will need $23,000 in four years, $24,300 in five years, $26,000 in six years, and $28,000 in seven years. If he can put money into a fund that pays 4 percent interest, what lump-sum payment must Jeremiah place in the fund today to meet his college funding goals?
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Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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