calculate a education fee

Business & Finance
Tutor: None Selected Time limit: 1 Day

expected aaverage inflation:3%

case 1:

4 years later will enter university:

$60000 per year, total 2 years

case 2:

6 years later will enter university:

$60000 per year, total 2 years

calculate each case and each year's education fee.

Apr 5th, 2015

If I understand the question correctly, if the cost of education today is $60,000 per year, the cost of an education in years 4 and 5 would cost $67,531 and $69,556, for a total of $137,087. The cost of an education in years 6 and 7 would cost $71,643 and $73,792, for a total of $145,436. Each year the cost of an education increases by (1 + inflation rate).

Apr 5th, 2015

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Apr 5th, 2015
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Apr 5th, 2015
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