You want to save $125,000 for college for your new born. Your parents just gave you $10,000 towards the college fund tha

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

You want to save $125,000 for college for your new born. Your parents just gave you $10,000 towards the college fund tha

Post by answerhappygod »

You want to save $125,000 for college for your new born. Your
parents just gave you $10,000 towards the college fund that you
will invest for 18 years @ 9%. You prsently have $5,000 in an
account earning 8% that you will use toward your college savings
goal. How much more do you need to save monthly for 18 years at 9%
to achieve your $125,000 goal? (10 points)
Calculations need to be in the form of the Financial Calculator
using N, I, PMT, PV, FV
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”