Homework Help: Finance

Posted by Nk on Monday, September 24, 2012 at 11:24pm.

Professor Anderson has a daughter who is 3 years old. In 15 years she will go to college and he is uncertain whether he has saved enough to finance her college education. Based on his reading, he believes that it will cost $208,000 to pay for his daughter’s education in 15 years. He has $73,000 to invest and believes that he can consistently achieve a 5% annual return on his investment.

Finance - Reiny, Monday, September 24, 2012 at 11:30pm
You have posted this twice, without asking a question.
What are you asking ?

Does 73000 amount to 208000 in 15 years at 5% ??

amount = 73000(1.05)^15 = 151761.76

Answer this Question

Related Questions

Finance - Professor Anderson has a daughter who is 3 years old. In 15 years she ...
Math - A mother is 4 times as old as her daughter. In 4 years, the mother will ...
math - mrs.ellis is 28 years older than her daughter. in 11 years she will be 3 ...
algebra - A person is 3 times as old as aonther person but in 15 years she will ...
English - Can you please help me complete the fill-in-the-blank activity, please...
Finance - 5. John and Daphne are saving for their daughter Ellen's college ...
psychology - WHICH AGE GROUP SHOW LOWEST SELF -ESTEEM DURING CHILDHOOD AND ...
Maaaath!!! - A woman is three times as old as her daughter, but in 12 years she ...
Grammar and hyphens - Select the sentence which is correctly punctuated. A) His ...
prime factiozation - i am 25 years old and i need to the find the lcm of 15 ...

For Further Reading

First Name:
School Subject:
Answer: