Fiance
posted by Rudy on .
If a father wants to have $100,000 to send a newborn child to college, how much must he invest annually for 18 years if he earns 9 percent on his funds?

P(1.09)^18=100 000
P=100 000/4.72 
paym(1.09^18  1).09 = 100 000
paym( 41.301338)
annual investment = 100 000/41.301338) = 2412.23