the cost in 15 years is 214,000 to provide a college education. Can I have enough to take $75,000 today and invest it for the next 15 years at 5%?

Question

the  cost in 15 years is 214,000 to provide a  college education. Can I have enough to take $75,000 today and invest it for the next 15 years at 5%?

Reiny · Answer

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Reiny · Answer

Notice the slight change in numbers, but follow the method.

Phoebe · Answer

Assume the Banc One receives primary deposits of $1 million. The Bank must reserves of 20 percent against its deposits. Prepare a simple balance sheet of assets and liabilities for Bang One