Problemrick wants to send his son to university of maryland, Ask an Expert

Finance

Problem:

Rick wants to send his son to University of Maryland 8 years from now. He estimates he will need $30,000 then.

Required:

Question: How much does Rick need to invest today, if his investment can grow by 5% per year, compounded quarterly?

Note: Explain in detail.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174606

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