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
We are given the future value and we have to find the present value. The ...
The solution explains how to calculate the amount to invest to that it grows to a predetermined value.