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Question: Alan and Angel Young both 36 years old

My Young recently accepted a job making $93K a year

Mrs. Young currently unemployed

Two children (ages 4 & 2)

Calculate the PV of each child's college education (Use real vs nominal approach) Current cost of education $35K in today's dollars with expected 5% inflation. Expect children in school six years each and expect rate of return 8.5%.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92760974

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