2. Assume the couple John and Helen want to fund a college education for their son, William, age 2. William will attend

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

2. Assume the couple John and Helen want to fund a college education for their son, William, age 2. William will attend

Post by answerhappygod »

2. Assume the couple John and Helen want to fund a collegeeducation for their son, William, age 2. William will attend 4years of college starting at age of 18. He needs $60,000 availableat age 18 for his college expense. Starting from now, the coupleplans to invest $3000 to the 529 education fund at the end of eachyear. What rate of annual return do they need to achieve?
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”