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Your parents invest $10,000 in a college fund when you are born. They find a fun

by | Apr 26, 2022 | Other

 

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Your parents invest $10,000 in a college fund when you are born. They find a fund that will return 8% per year for 18 years.
When you are 18 you find a school that charges $12,000 tuition per year. Tuition increases at a rate of 11% per year (so the second year will have a tuition of $13,320) , will this money take care of four years of school? How many years of college will this take care of? Explain your answer fully.

 

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