What amount should a parent deposit in savings account

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Here is a present value question. Take note: this question is common in planning for college! To have $6,000 for a child's education in 10 years, what amount should a parent deposit in a savings account that earns 12 percent, compounded quarterly (hint : two extra steps)? Try using all three methods (formula, table, and calculator).

Reference no: EM131333452

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What amount should a parent deposit in savings account : Here is a present value question. Take note: this question is common in planning for college! To have $6,000 for a child's education in 10 years, what amount should a parent deposit in a savings account that earns 12 percent, compounded quarterly (h..

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