Assume the total cost of a college education will be $350,000 when your child enters college in 15 years. You presently have $67,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?
Assume the total cost of a college education will be $350,000 when your child enters college in 15 years. You presently have $67,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Assume the total cost of a college education will be $350,000 when your child enters college in 15 years. You presently have $67,000 to invest.
What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?
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