4. Suppose you make an annual contribution of BD300 each year to a college education fund for a niece. She is 4 years old now, and you will start next year and make the last deposit when she is 18. The fund is a money market account earning 6.5%/year. What will it be worth immediately after the last deposit? You may also set up spreadsheet solution AGE Ending Beginning Balance in Deposit Interest Balance
4. Suppose you make an annual contribution of BD300 each year to a college education fund for a niece. She is 4 years old now, and you will start next year and make the last deposit when she is 18. The fund is a money market account earning 6.5%/year. What will it be worth immediately after the last deposit? You may also set up spreadsheet solution AGE Ending Beginning Balance in Deposit Interest Balance
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 16PROB
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