Question: PLEASE SHOW WORK - EXAMPLE: (i.e., PV=-1000, I/Y=10%, N=30 solved for FV=17449.40) I want to have $50,000 for college in 18 years. If I can

PLEASE SHOW WORK - EXAMPLE: (i.e., PV=-1000, I/Y=10%, N=30 solved for FV=17449.40)

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

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!