I want to have $50,000 for my daughter's college in 18 years. If I can afford to

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"I want to have $50,000 for my daughter's college in 18 years. If I can afford to put away $1500 a year, what interest rate would I need to get?"

The answer is 6.8%. What was the formula used to find that rate?

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Entrepreneurship

ISBN: 9781119563099

5th Edition

Authors: Andrew Zacharakis, William D Bygrave

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Posted Date: May 10, 2024 09:12 AM

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I want to have $50,000 for my daughter's college in 18 years. If I can afford to

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So the interest rate needed to achieve a future savings goal of 500... View the full answer

Entrepreneurship

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