Suppose that a young couple has jus had their first baby and they wish to ensure that
Fantastic news! We've Found the answer you've been seeking!
Question:
Suppose that a young couple has jus had their first baby and they wish to ensure that enough money will be available to pay their child's college education. Currently, college tuition, books, fees, and other costs average 12,500 we year. On average, tuition and other costs have historically increased at a rate of 4% per year.
assuming that college costs continue to increase an average of 4% per year and that all her college savings are invested in an account paying 7% interest, then what is the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education?
Posted Date: