Question: Please answer the below questions below within the next hour: 1. Assume the total cost of a college education will be $250,000 when your child

Please answer the below questions below within the next hour:

1.

Assume the total cost of a college education will be $250,000 when your child enters college in 17 years. You presently have $72,000 to invest.

What annual rate of interest must you earn on your investment to cover the cost of your childs college education?

2.

You have just made your first $5,900 contribution to your retirement account. Assume you earn an 11 percent rate of return and make no additional contributions.

What will your account be worth when you retire in 36 years?

What if you wait 10 years before contributing?

3.

Your coin collection contains 42 1952 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2052, assuming they appreciate at a 5.9 percent annual rate?

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