Question: Assuming a 9 . 9 % after - tax rate of return, calculate the amount needed today to fund the children s college education. Round

Assuming a 9.9% after-tax rate of return, calculate the amount needed today to fund the childrens college education. Round your answer to 2 decimal places. Education Inflation is 5%.
The Monteros assume their first 4 children will go to college and want to provide $50,000 per year for 4 years for their college education. The children's ages are 17,15,12,10. All students will start college at 18. The 17 will start college next year.

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