Question: Ted is enrolling in a 2-year graduate program costing $25,000 per year. If he earns 5.2%/year on his money, how much should he have at

Ted is enrolling in a 2-year graduate program costing $25,000 per year. If he earns 5.2%/year on his money, how much should he have at the start of his studies to pay for this? Spread the costs evenly over each month during his program; in other words, present value each month's expense. Assume he earns nothing on this savings once he starts the program.

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