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Chris is planning for her son's college education to begin five years from today. She estimates the yearly tuition, books, and living expenses to be $5,000 per year for a four-year degree. How much must Chris deposit today, at an interest rate of 8 percent, for her son to be able to withdraw $5,000 per year for four years of college? A. $11,277 B. $13,620 C. $20,000 D. $39,520 Oct 11 2011 12:23 AM


Solution ID:608852 | This paper was updated on 26-Nov-2015

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