Question: help needed on this question 5 23 On the day of your child's birth, you open a savings account for their college education. Your goal

 help needed on this question 5 23 On the day ofhelp needed on this question

5 23 On the day of your child's birth, you open a savings account for their college education. Your goal is to give them $50,000 for college when they turn 18. The account earns 4.500% interest per year. What do you need to deposit today to meet your goal for the child? Intermediate Computations (5 points each)

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!