You would like to give your daughter $75,000 towards her college education 16 years from now. How much money must you set aside today for this purpose if you can earn 8 percent on your investments? Group of answer choices $28,417.67 $18,388.19 $29,311.13 $21,891.79 $20,270.17

You would like to give your daughter $75,000 towards her college education 16 years from now. How much money must you set aside today for this purpose if you can earn 8 percent on your investments? Group of answer choices $28,417.67 $18,388.19 $29,311.13 $21,891.79 $20,270.17

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter13: Investment Fundamentals

Section: Chapter Questions

Problem 2DTM

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Question

You would like to give your daughter $75,000 towards her college education 16 years from now. How much money must you set aside today for this purpose if you can earn 8 percent on your investments?

Group of answer choices

$28,417.67

$18,388.19

$29,311.13

$21,891.79

$20,270.17

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