question archive Conceptual Homework 4CShow work to receive credit
Conceptual Homework 4CShow work to receive credit
Subject:MathPrice: Bought3
Conceptual Homework 4CShow work to receive credit.
Suppose you just had your first child and you want to begin immediately putting away for his/her college tuition. Assume that college will cost a total of $160,000 for all 4 year combined and that your child will begin college at age 18.
1. How much will you need to put away each month at a rate of 4% in order to achieve that goal?
2. How much money will you have actually put into the account over the course of the 18 years?
3. How much did your investment actually earn you?
4. Do you think it was worthwhile to put the money into an investment account? Explain your answer.
