Your cousin is currently 13 years old. She will be going to college in 5 years. Your aunt and uncle would like to have $

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answerhappygod
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Your cousin is currently 13 years old. She will be going to college in 5 years. Your aunt and uncle would like to have $

Post by answerhappygod »

Your cousin is currently 13 years old. She will be going to
college in 5 years. Your aunt and uncle would like to have $115,000
in a savings account to fund her education at that time. If the
account promises to pay a fixed interest rate of 3.6% per year, how
much money do they need to put into the account today to ensure
that they will have $115,000 in 5 years?
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