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How much should the couple begin depositing annually

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Question - Morshed and Jui couple have two children. The age of first child is 10 years old and the Morshed couple is expecting that their first child Alex will go to university after 8 years. And the university expected cost after years will be approximate BDT 200,000.00 per year, according to that to complete the four years degree they need BDT 1,000,000.00, how much should the couple begin depositing annually at the end of each year to accumulate enough funds to pay each year's tuition fees to continue Alex education? Assume that they can earn a 6% annual rate of return on their investment.

Reference no: EM133044191

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