You plan to send your first born child for a 4-year degree with 4 annual payments. Your first payment will start in 20 years in the amount of $65,000 and grow by 9% per year. Assuming a discount rate of 7%, how much do you need to set aside today to fund your child's education? Use the $ symbol and round to the nearest thousand dollars.

Richard just entered a university, and his parents are planning to give him a car upon graduation. How much should they invest into an account with an APR of 10% compounded monthly if they estimate that in four years the car will cost $15,000? Round your answer to the nearest cent.

To accumulate $100,000 for your child's 18th birthday, you need to invest a certain amount annually, excluding the 5th birthday deposit. The first deposit is made the day your child is born. To find this amount (X), considering a 8% annual rate of return:

You have $400,000 to donate to your college. The college's discount rate is 6%. You donate the money today, but you ask the college to delay the scholarship payment so that the first scholarship payment is made 10 years from today. How large will the annual payment be? The annual scholarship payment will be $. (Round to the nearest cent.)

Use the savings plan formula to answer the following question. Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 5%. How much should you deposit monthly to accumulate $88,000 in 12 years? You should invest $ each month. (Do not round until the final answer. Then round to two decimal places as needed.)

You are saving for the university education of your two children. They are two years apart in age; one will begin university 15 years from today and the other will begin 17 years from today. You estimate your children's university expenses to be $45,000 per year per child, payable at the beginning of each school year. The annual interest rate is 7.5 percent. Your deposits begin one year from today. You will make your last deposit when your older child enters university. Assume four years of university. How much money must you deposit in an account each year to fund your children's education? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Annual savings $

Your daughter wants to the University of Cincinnati. She is already planning to start in 10 years (which is when her first tuition payment is due). Her tuition will be $19,886 per year for four years. The relevant discount rate is 8.01 percent per year. You plan to save for her education by setting aside the same amount of money per year for 9 years. What is the amount you need to save per year if you start saving at the end of this year? O $32,914.10 O $5,271.07 $3,657.12 $30,473.20 O $7,316.70

Use the savings plan formula to answer the following question. Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 4%. How much should you deposit monthly to accumulate $87,000 in 15 years? You should invest $ each month. (Do not round until the final answer. Then round to two decimal places as needed.)

Say that you want to establish a scholarship fund that will make fixed payments forever. To fund the scholarship, you plan to make 12 annual contributions of $9.9k to an investment account with an expected return of 6.0% interest annually. Your first contribution occurs today. If the scholarship fund makes its first payment two years following the last contribution, then what is the fixed annual payment that the scholarship fund will award? (Round to the nearest dollar)

If the average college tuition cost is $40,000/year currently to go to college, what will it cost for your children in 2045 for a 4-year degree if the inflation rate is 4% per year until then