The amount they need to put away today

Assignment Help Financial Management

Reference no: EM132061649

Your cousin is currently 12 years old. She will be going to college in 6 years. Your aunt and uncle would like to have $100,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.0% per year, how much money do they need to put into the account today to ensure that they will have $100,000 in 6 years? The amount they need to put away today is $___.

(Round to the nearest cent.)

Reference no: EM132061649

Questions Cloud

What will happen to the economy of a country : What will happen to the economy of a country if the government allows the banks to print a lot of money and give the people cheap loans.

Prepare journal entries relating to the stock-option plan : Prepare journal entries relating to the stock-option plan for the years 2015, 2016, and 2017. Assume that employee performs services equally in 2015 and 2016

Example or a situation of a bayesian game : Can you explain to me an example or a situation of a Bayesian game while give me an example?

Probability of failing your final exams : If the probability of failing your final exams are ½. However, if you pass them the probability of going to university is 4/5.

The amount they need to put away today : Your cousin is currently 12 years old. She will be going to college in 6 years. The amount they need to put away today is $___.

Analysis of key project procurement issues : Challenges in megaproject procurements - Analyzing and resolving project procurement seller claims - Unique aspects of IT procurements

Prepare journal entries relating to the stock-option plan : Prepare journal entries relating to stock-option plan for the years 2015, 2016, and 2017. Assume that the employee performs services equally in 2015 and 2016

What is a cross cultural intelligence mindset : Self managed work teams can be a great way to bring employee's together to collaborate as a team can be effective if the managers hire the right individuals.

Volatility of six year yen per dollar forward exchange rate : the volatility of the 6-year “yen per dollar” forward exchange rate is 10%,

User Account

All Pages