1 to save for her newborn sons college education lea wilson, Ask an Expert

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1. To save for her newborn son's college education, Lea Wilson will invest $25,000 at the beginning of each year for the next 14 years. The interest rate is 11 percent. What is the future value?

$107,750.

$860,125.

$835,125.

$807,616.

2. Pedro Gonzalez will invest $28,000 at the beginning of each year for the next 8 years. The interest rate is 11 percent. What is the future value? Use Appendix C. (Round "FV Factor" to 3 decimal places.)

$359,628.

$368,592.

$332,052.

$396,592.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92777321

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