Assume the totol cost of a college educotion will be $200,000 when your child enters college in 16 years. You presently have $55,000 to Invest. What onnual rote of Interest must you earn on your investment to cover the cost of child's college education? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 dacimal places, a.g., 32.16.) your Annual rate of interest

Assume the totol cost of a college educotion will be $200,000 when your child enters college in 16 years. You presently have $55,000 to Invest. What onnual rote of Interest must you earn on your investment to cover the cost of child's college education? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 dacimal places, a.g., 32.16.) your Annual rate of interest

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 33P

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