Your cousin is currently 12 12 years old. She will be going to college in 6 6
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Question:
Your cousin is currently 12
12 years old. She will be going to college in 6
6 years. Your aunt and uncle would like to have $ 100 comma 000
$100,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.0 %
4.0% peryear, how much money do they need to put into the account today to ensure that they will have $ 100 comma 000
$100,000 in 6
6 years?
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