Solution-Substitute numbers into formulas in separate steps

Substitute numbers into formulas in separate steps

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Reference no: EM132527563

Your son is about to start kindergarten in a private school. Currently, the tuition is $12,000 per year, payable at the start of the school year (t=0). You expect annual tuition increases, on average, 6% per year over the next 13 years (t=1 to t=13). Assuming that your son remains in this private school through high school and that your current interest rate is 6%, then what is the present value of your son's private school education?

Answer and working in the form of: "you are expected to clearly write down the important formulas (E.g. present value or future value formula, IRR, NPV, etc.) in letters and "

Thank you in advancesubstitute numbers into formulas in separate steps

Reference no: EM132527563

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Substitute numbers into formulas in separate steps

Reference no: EM132527563

Reference no: EM132527563

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