Your sister will start college in five years. She just informed your parents that she...
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Your sister will start college in five years. She just informed your parents that she wants to go to Georgia Southern University. It will cost $20,000 per year for four years (cost assumed to come at the beginning of each year). Anticipating her ambitions, your parents have saved already $15,000 and will continue to invest at the end of each month for the next five years. How much more will your parents have to invest each month for the next 5 years to have the necessary funds for your sisters college education? Assume the interest rate is 10% annual compounding.
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