Assuming that university costs continue to increase at an average of 4% per year and that all her university savings are invested in an account paying 7% interest, then what is the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education?

Question

Quizplus · Accepted Answer

The Answer of Assuming that university costs continue to increase at an average of 4% per year and that all her university savings are invested in an account paying 7% interest, then what is the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education?

Assuming That University Costs Continue to Increase at an Average