Your cousin is currently 13 years old. She will be going to college in 5 years. Your aunt and uncle would like to have $
Posted: Thu May 19, 2022 12:23 am
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?
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?