Maurice Tutor

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$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 407 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Jan 2018 My Price 7.00

College Board

Your five-year-old daughter has just announced that she would like to attend college. The College Board has reported that the average cost of tuition, room, board, and other expenses at public colleges is $16,140 in the 2010–2011 academic year.11 The cost has risen 6.1% over the last year. You believe that you can earn a rate of 8% on investments to meet this goal.

a. If costs continue to rise at 6.1% per year, how much will it cost for the first year of tuition in 13 years?

b. Assuming that you plan to have enough money saved in 13 years to cover all four years of college costs, how much will you need to have accumulated by that time? Note that the tuition, room, and board is a graduated annuity growing 6.1% per year, and assume that you will pay all costs at the beginning of each year.

c. If you were to invest a lump sum today in hopes of covering your daughter’s college costs, how much would you have to invest?

d. If you now decided to invest annually instead, how much would you have to invest each year? What if you make investments monthly instead?

e. You just learned of a $10,000 inheritance and plan to invest it in your daughter’s college fund. Given this new source of funds, how much will you now have to invest each year?

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jan 2018 11:01 PM My Price 7.00

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