Question: 1.Assume the couple John and Helen want to fund a college education for their son, William, age 2.William will attend 4 years of college starting

1.Assume the couple John and Helen want to fund a college education for their son, William, age 2.William will attend 4 years of college starting at age of 18. He needs $60,000 available at age 18 for his college expense.Starting from now, the couple plans to invest $6000 to the 529 education fund at the end of each year.What rate of annual return do they need to achieve?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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 Finance Questions!