How much must megan deposit today

Reference no: EM131997213

Question: Megan is planning for her son's college education to begin six years from today. Megan estimates the yearly tuition to be $7,000 per year for a four-year degree. Tuition must be paid at the begining of each year. How much must Megan deposit today, at an intrest rate of 5 percent, for her son to be able to withdraw $7,000 per year for four years of college?

Reference no: EM131997213

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