Assume the couple John and Helen want to fund a college education for their son, William,...
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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 $100,000 available at age 18 for his college expense. Starting from now, the couple plans to invest $6,000 to the 529 education fund at the end of each year. What rate of annual return do they need to achieve? 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 $100,000 available at age 18 for his college expense. Starting from now, the couple plans to invest $6,000 to the 529 education fund at the end of each year. What rate of annual return do they need to achieve?
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Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
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