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College is expected to cost $150,000 per year in 18 years, how much should you begin depositing annually at the end of each year to accumulate enough funds to pay the first years tuition at the beginning of the 19th year? earning 6% annual rate of return of the investment

  • math - ,

    150,000 = A*[1.06)^18 -1]/0.06

    Where A is the required annual contribution, made n = 18 times.
    150,000 = A*30.906
    A = $4853.48

  • math - ,

    For tax purposes, business frequently depreciate equipment.

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