1.Assume the total cost of a university education will be P250 000 when your child enters university in 18 years. You presently have P43 000 to invest. What rate of interest must you earn on your investment to cover the cost of your child’s university education?
1.Assume the total cost of a university education will be P250 000 when your child enters university in 18 years. You presently have P43 000 to invest. What rate of interest must you earn on your investment to cover the cost of your child’s university education?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
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1.Assume the total cost of a university education will be P250 000 when your child enters university in 18 years. You presently have P43 000 to invest. What rate of interest must you earn on your investment to cover the cost of your child’s university education?
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