A man wishes to set aside money for his daughters college, Econometrics

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A man wishes to set aside money for his daughters college

A man wishes to set aside money for his daughter's college education. His goal is to have a bank savings account containing an amount equivalent to $20,000 in today's dollars at the girl's 18th birthday. The estimated rate is 8%. If the bank pays 5% compounded annually, what lump sum should he deposit on the child's 4th birthday?

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Econometrics: A man wishes to set aside money for his daughters college

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Econometrics: A man wishes to set aside money for his daughters college

Reference No:- TGS0569558

Have a Question? (oR Write a Review)

Recent Questions Asked Econometrics

Q : Describe the most likely effect of temperature catalyst

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Request for Solution File

Ask an Expert for Answer!!

Econometrics: A man wishes to set aside money for his daughters college

Reference No:- TGS0569558

Recent Questions Asked Econometrics

Q : Describe the most likely effect of temperature catalyst

Q : Provide an injective function from to and explain why its

Q : Copper is highly sensitive to oxidation by molecular oxygen

Q : A booster shot is another dose of the original vaccine

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Q : If the price of good x fell to 1 what is the new optimal

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