Problem on deposition of money
If four years of college is expected to cost $150,000 18 years from now, how much must be deposited now into an account that will average 8% annually in order to save the $150,000? By how much would your answer change if you expected 11% annually?
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If 4-years of college is expected to cost $150,000 18 years from now, how much must be deposited now into an account which will average 8% annually in order to save the $150,000? By how much would your answer change if you expected 11% yearly?
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