finacne
posted by shelly .
cYou think that in 15 years it will cost $214,000 to provide your child with a 4year college
education. Will you have enough if you take $75,000 today and invest it for the next 15
years at 5%?
d. If you can earn 5%, how much will you have to save each year if you want to retire in 35
years with $1 million?

c. P = Po + Po*r*t
P = 75,000 + 75000*0.05*15 = $131,250.
Respond to this Question
Similar Questions

business math
If Naomi decides that she will invest $3,000 per year in a 6% annuity for the first ten years, $6,000 for the next ten years, and $9,000 for the next ten years, how much will she accumulate? 
Finance
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 … 
Finance
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 … 
finance (math)
You think that in 15 years it will cost $214,000 to provide your child with a 4year college education. Will you have enough if you take $75,000 today and invest it for the next 15 years at 5%? 
math
You think that in 15 years it will cost $212,000 to provide your child with a 4 year college education. Will you have enough if you take $70,000 today and invest it for the next 15 years at 5%? 
Finance
the cost in 15 years is 214,000 to provide a college education. Can I have enough to take $75,000 today and invest it for the next 15 years at 5%? 
FIN110339
You think in 15years, it will cost $214,000 to provide your child with a 4 year college education. Will you have enough if you take $75,000 today and invest it for the next 5 years with $1million 
Math: Finance
Need help solving these finance questions? 
Finance
Baako has invested $75,000 in a trust fund at 9% for his child's college education. His child will draw $30,000 per year for four years, starting at the end of year 7. What will be the amount that will be left over in the education … 
Mathematics of growth rate! Need help!
Suppose that your child is born this year, and that you would like to set aside enough money now so that your child will have $3000000 at retirement in 20 years. A) if return of return on your money averages 5% per year over the next …