You want to start a savings program for a college fund for your daughter. She...
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You want to start a savings program for a college fund for your daughter. She is currently two years old t and will start college when she is t Assume you are currently years old. College education currently costs $ per year at a private university like Northwestern, including room and board. You expect your daughter will attend college for four years. Assume the costs of a college education grow at a rate per year. You want to save the same amount in nominal terms, ie not adjusted for inflation each year starting next year, and your savings program will end when you daughter is at t Assume that the market interest rate is You earn this interest on your savings.
You want to start a savings program for a college fund for your daughter. She is currently two years old t and will start college when she is t Assume you are currently years old. College education currently costs $ per year at a private university like Northwestern, including room and board.
You expect your daughter will attend college for four years.
Assume the costs of a college education grow at a rate per year.
You want to save the same amount in nominal terms, ie not adjusted for inflation each year starting next year, and your savings program will end when you daughter is at t
Assume that the market interest rate is You earn this interest on your savings.
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