How much money should dustin and christy put in the fund


Dustin and Christy are saving for their daughter, Ella's, college. They just received an inheritance and want to put some of it into a fund (one lump sum deposit today) that will pay for Ella's college, which will begin in 15 years. Ella's college expenses are estimated to be $75,000 15 years from today, and are expected to grow by 9% per year for the remaining three years. How much money should Dustin and Christy put in the fund today? Assume they can earn 8% on their investment. 

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Accounting Basics: How much money should dustin and christy put in the fund
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