Now, imagine you are the parent, and 18 years ago, your child was born. At the time of your child's birth, you considered saving money for a college education. 5.) How much money would you need to deposit into a savings account at the time of your child's birth (lump sum) if you wanted to have the amount you figured in question #2 in 18 years? (120, 448) If your rate of return is 8% compounded annually. a) b) If interest is 6.8% compounded monthly.

Now, imagine you are the parent, and 18 years ago, your child was born. At the time of your child's birth, you considered saving money for a college education. 5.) How much money would you need to deposit into a savings account at the time of your child's birth (lump sum) if you wanted to have the amount you figured in question #2 in 18 years? (120, 448) If your rate of return is 8% compounded annually. a) b) If interest is 6.8% compounded monthly.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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