You have an absolutely brilliant child who is six years old and will be attending a private college in twelve years. You know that in twelve years a four -year college will cost at least $70,000 per year (total $280,000), including tuition, books, and room and board. You determine that you can earn 12 percent on a mutual fund investment during the next twelve years, and invest at the beginning of each year. How much will your total investment be for the twelve -year period?

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The Answer of You have an absolutely brilliant child who is six years old and will be attending a private college in twelve years. You know that in twelve years a four -year college will cost at least $70,000 per year (total $280,000), including tuition, books, and room and board. You determine that you can earn 12 percent on a mutual fund investment during the next twelve years, and invest at the beginning of each year. How much will your total investment be for the twelve -year period?

You Have an Absolutely Brilliant Child Who Is Six Years