Linda is 10 years old. Her parents want to save for 4 years of college, starting at 18. Her parents want to deposit $X today and on birthdays
Linda is 10 years old. Her parents want to save for 4 years of college, starting at 18. Her parents want to deposit $X today and on birthdays 11, 12, … 17. On birthdays 18, 19, 20, 21, they plan to take out $20,000—the cost of college. How much do her parents need to save each year? Assume the discount rate is 10%. Using PMT formula (Excel: PMT=(Rate, NPER, PV, FV, Type)), solve for the annual deposit necessary to meet their financial goals. Hint: in this example, you will need to convert your $20,000 4-year annuity liability into one value, before solving for the necessary payment
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
