Asked by shelly
cYou think that in 15 years it will cost $214,000 to provide your child with a 4-year college
education. Will you have enough if you take $75,000 today and invest it for the next 15
years at 5%?
d. If you can earn 5%, how much will you have to save each year if you want to retire in 35
years with $1 million?
education. Will you have enough if you take $75,000 today and invest it for the next 15
years at 5%?
d. If you can earn 5%, how much will you have to save each year if you want to retire in 35
years with $1 million?
Answers
Answered by
Henry
c. P = Po + Po*r*t
P = 75,000 + 75000*0.05*15 = $131,250.
P = 75,000 + 75000*0.05*15 = $131,250.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.