Concerns: Youngs want to know the cost of college education for the two children so that they can approach Angel's father about fully funding 529 Plans. The current cost of education is $35,000 per year in today’s dollars and the inflation rate is expected to be 5%. They expect the children to be in school for 6 years each, and while they don't know, they expect the S529 Plan's investment rate to be 8.5%. Step 1: Calculate the inflation-adjusted, six-year cost of each child's college education N = ÉV = PMT = PV= Step 2: Calcu the present value of the lump-sum cost of cach child's six years of college. For the 4 old For the 2 year old FV FV N PMT PV PMT PV Total PV of two children: Step 3: Calculate the payment needed to each child's 529 Plan For the 4 old For the 2 year old PV PV N FV FV PMT PMT %3D Total annual cost of savings: II I I I| II II I I II

Business /Finance / Q&A Library / elena's son enter college 16 year from now. At the time she would like to have $20,0 elena's son enter college 16 year from now. At the time sh Question elena's son enter college 16 year from now. At the time she would like to have $20,000 available for college expenses. For that pur,her bank will set up an account that pay 7% compounded. If she makes payment into the account at the end of each quarter, what must Elena's payments to be achieve her goal Expert Answer Step 1

Reasons detailing how a max $20,000 scholarship would improve someone's situation.

Should this person open a credit card account? If they do decide to open the new credit card account, what’s one thing this individual should monitor?

Based on the information above should Billy open a checking account or a savings account? Explain your choice by citing at least 2 benefits of the account type you chose and why those benefits are a good fit for Billy's current situtation.

How many years would Joey have to work before company B is the better option? Please show work to support answer.

16. You are thinking about going to graduate school to earn a master's degree, which you hope will allow you to earn more money. Which of the following is NOT an incremental cash flow associated with your decision to extend your schooling versus going into the workforce when you finish your undergraduate degree? A) the cost-of-living expenses, such as rent and food, while you are in graduate school B) the cost of tuition C) the lost income you could have earned by working rather than staying in school D) the cost of books and other supplies required for your graduate studies