What amount must you put in the bank today if you will need $10,000 in...
60.1K
Verified Solution
Link Copied!
Question
Accounting
What amount must you put in the bank today if you will need $10,000 in 8 years for the cost of your childs college education? The bank will provide you with interest payments quarterly on your investment. The annual rate of interest you have been quoted is 12 percent.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
