Essay
If four years of college is expected to cost $150,000 18 years from now, how much must be deposited now into an account that will average 8 percent annually in order to save the $150,000? By how much would your answer change if you expected 11 percent annually?
Correct Answer:
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FV = PV (1 + i)n
$150,000 = PV ...View Answer
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Correct Answer:
Verified
$150,000 = PV ...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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