Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. (quantitative question) assume that your parents w

(Quantitative Question) Assume that your parents wanted to have $140,000 saved for college by your...

90.2K

Verified Solution

Question

Finance

image
(Quantitative Question) Assume that your parents wanted to have $140,000 saved for college by your eighteenth birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 9% per year on their investments. How much would they have to save each year to reach their goal? $ Write the answer both in the space provided and on the empty pages on which you will also show your work (including timelines)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Prove that the following statements are equivalent. A. The Euclidean parallel postulate holds. B. Given any...

Chemistry
1.2K views

Consider the following chemical reaction: 2 CH4(g) 3 O2(g) 2 CO(g) 4 H2O(l) Select all the...

Medical Sciences
1.2K views

Briefly explain how the eye focuses light on the retina

Biology
1.2K views

Identify two strategies that some bacteria may utilize to survive extreme or less than optimal environments.

Accounting
1.2K views

A company manufactures jackets and provided you with the following production info for the period: Beginning balance...

Physics
1.2K views

2 A wire of mass m and length bent in the form of an arc...

Geometry
1.2K views

Find the exact circumferenc 5 area 196 mi

Calculus
1.2K views

The tangent line to a smooth curve r t f t i g t j...

Accounting
1.2K views

HW CH 4 #3 The cash...

Accounting
1.2K views

Assume the following: 1. sales = $200,000 2. unit sales = 10,000 3. the contribution...

Accounting
1.2K views

What liability account is used to record amounts received from customers before services are performed

Accounting
1.2K views

The following information pertains to one item of inventory of the Simon Company: Per unit...