Question: Question 19 Currently. Tom is planning to set up an education account with 4% annual return. He is planning to put in 550.000 and make
Question 19 Currently. Tom is planning to set up an education account with 4% annual return. He is planning to put in 550.000 and make annual deposits in the next five years until his daughter starts college. How much does Tom need to detery year so that he has enough money to cover the tuition for the four years of college Assume that the return to when Tom's daughter enters the college. A. $5.905.31 B. $14,183.8 C. $10,229.75 D. $8.183.8 E. $6,664.73 Tom's daughter is going to college 5 years from now. And Tom is preparing to pay for his daughter's college tuition. The tuition is $20,000 per year. Tom's daughter is expected finish her degree four years after she first enters the college
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