Business, 22.04.2020 04:59 logan3653

Your client, Brooke, decides to start saving for her son's college tuition. Her son was born today and will go to college at age 18 for four years. Brooke wants to save until her son's first year of college. Given the following information, what is the present value of the total amount that Brooke needs to have saved at the beginning of her son's first year of college?

Current tuition: $15,000
Tuition inflation: 6.5%
Brooke's investment return: 10%

a. $29,202
b. $39,010
c. $34,090
d. $31,959

Answers: 1

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Your client, Brooke, decides to start saving for her son's college tuition. Her son was born today a...

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