Question: I just need the correct answer Question 3 You plan on going to law school for 3 years starting in 5 years. The cost of
I just need the correct answer
Question 3
You plan on going to law school for 3 years starting in 5 years. The cost of tuition for the first year will be $25,000 The cost of tuition for the second year will be $26,000 The cost of tuition for the third year will be $27,040 How much would you have to invest today in an account that earns 2.00% APR compounded annually) to exactly pay for your tuition? Group of answer choices
$69,270
$72,041
$67,253
$71,349
Question 4
You are managing the investments of a pension fund. You have to make a payment to your customer in 12 months. The amount of the payment is equal to $1,500,000. How much do you have to invest each month, starting next month, for 11 months to exactly provide for the payments if your investments earn 5.00% APR (compounded monthly)? Group of answer choices
$137,647
$127,877
$136,982
$132,992
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
