my daughter, Jennifer, will start college in five years. She has just informed me that she wants to go to Eastern State U., which will cost $18,000 per year for four years (cost I assume to come at the end of each year). Anticipating Jennifer's ambitions, I started investing $3,000 per year five years ago and will continue to do so for five more years.
How much more will I have to invest each year for the next five years to have the necessary funds for Jennifer's education? My interest rate is 10 percent. thank you .
2006-09-14
07:59:08
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4 answers
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asked by
Anonymous
in
Investing