Explore BrainMass

Explore BrainMass

    Amount to Invest

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Say I just won the lottery and want to put some money away for my child's college education. College will cost $65,000 in 18 years. I can earn 8% compounded annually. How much would I need to invest?

    © BrainMass Inc. brainmass.com June 3, 2020, 7:12 pm ad1c9bdddf

    Solution Preview

    We are given the future value and we have to find the present value. The ...

    Solution Summary

    The solution explains how to calculate the amount to invest to that it grows to a predetermined value.