Question: I need help. Please! If possible please show how it would be entered in Xcel. Thanks Week 4 Chap 9 & 10 Question 4 (or
I need help. Please! If possible please show how it would be entered in Xcel. Thanks
Week 4 Chap 9 & 10 Question 4 (or s) Question 4 (of 5) 4. Problem 9-46 Annuity consideration [LO9-4] Your younger sister, Linda, will start college in five years. She has just informed your parents that she wants to go to Hampton University, which will cost $46,000 per year for four years (cost assumed to come at the end of each year). Anticipating Linda's ambitions, your parents started investing $6,600 per year five years ago and will continue to do so for five more years. Use 12 percent as the appropriate interest rate throughout this problem (for discounting or compounding). How much will your parents have save each year for the next five years n addition to the S660 they are current y sa ng to have he necessary und or Linda's education? use Ao end r and ppen x an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) for Additional annual savings required
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