Question: 6. You would like to save some fixed amount money annualy for your child starting from his first birthday to pay his university tuition for
6. You would like to save some fixed amount money annualy for your child starting from his first birthday to pay his university tuition for four years. He is expected to enter university when he completes 18 years of age. Assume that university tuitions are expected to be 25,000 Dollars per year at that time. How much money should you save annually starting from the end of year 1 until the end of year 18 to pay the 25,000 annual tuition starting from the end of year 18 until the end of year 21
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