What is the equal amount in actual dollars

Assignment Help Business Economics

Reference no: EM131073679

Jennifer and Sam want to save for their daughter Kyra's college expense. Kyra will enter college eight years from now, and she will need $35,000, $36,000, $37,000, and $38,000 in actual dollars for four school years. Assume that these college payments will be made at the beginning of each school year. The future general inflation rate is estimated to be 4% per year, and the annual inflation-free interest rate is 5%. What is the equal amount, in actual dollars, Jennifer and Sam must save each year until Kyra goes to college?

Reference no: EM131073679

Questions Cloud

Simple algorithm to find all prime numbers : Eratosthenes sieve The Eratosthenes sieve is a simple algorithm to find all prime numbers less than a given number.

Sketch a parabola that models a real-life situation : Sketch a parabola that models a real-life situation and describe what the vertex represents. Determine reasonable domain and range values for this type of situation

Determing the solution of the system : Determing the solution of the system. What is the ordered pair for

Write a c program that displays your name and address : Write a C program that displays your name and address (or if you value your privacy, a fictitious name and address). Convert the following to a do/while loop. It should produce exactly the same output.

What is the equal amount in actual dollars : Assume that these college payments will be made at the beginning of each school year. The future general inflation rate is estimated to be 4% per year, and the annual inflation-free interest rate is 5%. What is the equal amount, in actual dollars, Je..

Estimates the amount of businesses will spend : The equation y=10.2x+ 6.6 estimates the amount of businesses will spend, in billions of dollars on a certain business technology

Calcalute its velocity in glass : calcalute its velocity in glass.

For what lengths of time does it cost less to movers : Acme Movers charges $175175plus $3030per hour to move household goods across town.Hank's Movers charges $5555per hour. For what lengths of time does it cost less to hireHank's Movers

Create color printed to describe and promote your technology : Create a color printed, 2-sided, letter-sized, tri-fold brochure to describe and promote your technology. Your brochure should include images (hand-drawn are OK but quality is required) to assist in overall communication and answer the questions.

User Account

All Pages