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How much money you should save right now in the bank

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Reference no: EM132804004

Question - Time Value of Money - Right now, you are 15 years old and you want to save money to go to college. If the college you enter is 4 years and the tuition for each year is $100,000 per year. How much money you should save right now in the bank, if the bank's interest rate is 10%?

To solve: you have to draw a timeline and use a formula in the topic of Time Value of Money to solve the problem.

Reference no: EM132804004

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