Enough money today to pay for college

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Reference no: EM131825546

(Include a cash flow diagram) You want to make sure that you have enough money today to pay for college over the next 4 years. You find a bank that will pay you 5% interest. You think tuition, fees, and room and board will cost you $25,000 per year. How much do you need to deposit in your account right now to pay these costs each year? Solve this using a) the table values of the factors, b) the equation for the factor.

Reference no: EM131825546

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