Your parents invest $10,000 in a college fund when you are born. They find a fund that will return 8% per year for 18 years. When you are 18 you find a school that charges $12,000 tuition per year. Tuition increases at a rate of 11% per year (so the second year will have a tuition of 13200) Explain how this will not be enough money take care of four years of school? How many years of college will this take care of? Explain your answer fully.

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.