Chelsea has saved $20,000 for her son's education to date. He is 10 years old and she has 8 more years to save. If she invests $1,000 a year for the next 8 years, at the end of each year, how much will be available to fund his education? Assume a return of 6%, compounded quarterly, on her investment.

Answer rating: 100% (QA)

Sure lets calculate the future value of Chelseas investments at the end of each year For the initial ... View the full answer