The average overall cost of a Bachelor’s degree per year is $30,500. Assuming my children are 8 and 6, how much should I start saving today, each month, if my financial advisor has guaranteed an 8% return if I begin with a $10,000 deposit. (assume their birthday is 1/1 and they will begin college the moment they turn 18).

The average overall cost of a Bachelor’s degree per year is $30,500. Assuming my children are 8 and 6, how much should I start saving today, each month, if my financial advisor has guaranteed an 8% return if I begin with a $10,000 deposit. (assume their birthday is 1/1 and they will begin college the moment they turn 18).

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 6E

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