Your parents are giving you $150 a month for 5 years while you are in college....
90.2K
Verified Solution
Link Copied!
Question
Accounting
Your parents are giving you $150 a month for 5 years while youare in college. At a 6 percent discount rate, what are thesepayments worth to you when you first start college?
I am doing every step right in my financial calculator, getting8,886.60. I don't understand why.
Your parents are giving you $150 a month for 5 years while youare in college. At a 6 percent discount rate, what are thesepayments worth to you when you first start college?
I am doing every step right in my financial calculator, getting8,886.60. I don't understand why.
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!
Transcribed Image Text
Your parents are giving you $150 a month for 5 years while youare in college. At a 6 percent discount rate, what are thesepayments worth to you when you first start college?I am doing every step right in my financial calculator, getting8,886.60. I don't understand why.
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.