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Will he be able to pay the full amount of his masters

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Question - Suppose Pablo Escobar wants to accumulate the tuition fees for his master's in criminology program. He must pay full amount of tuition fees at the beginning of his study in 2023. The tuition fee at the end of year 2019 is $35000 which will increase by 5% at the end of every year. Pablo will start working from January 2020 for another three years before commencing his master's in criminology degree. If he saves $8000, $14500, $11500 respectively in three years and gets 11% on his savings, Will he be able to pay the full amount of his masters by himself?

Reference no: EM133134908

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