CourseWork

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About CourseWork

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

Expertise:
Applied Sciences,Chemistry See all
Applied Sciences,Chemistry,Communications,Economics,Engineering,Environmental science Hide all
Teaching Since: Apr 2017
Last Sign in: 363 Weeks Ago, 6 Days Ago
Questions Answered: 352
Tutorials Posted: 351

Education

  • MBA,PHD in Psychology
    Northwest Florida State College
    Jun-1992 - May-1997

Experience

  • Professor
    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 03 May 2017 My Price 9.00

line"> expenses. The son will enter college 10 years from now.

line"> expenses. The son will enter college 10 years from now.
An annual amount of $40,000 in constant dollars will be
required in order to support the son’s college expenses
for 4 years. Assume that these college payments will be
made at the beginning of the school year. The future
general inflation rate is estimated to be 6% per year and
the market interest rate is 8% compounded annually.
a)What is the amount of the son’s freshman year expense
in terms of actual dollars
b)What is the equivalent single sum amount at the present
time for these college expenses
c)What is the equal amount, in actual dollars, the father
must save each year until his son goes to college.

Answers

CourseWork
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Status NEW Posted 03 May 2017 12:05 PM My Price 9.00

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