time and value money

Sigchi4life
Category:
Business & Finance
Price: $30 USD

Question description


  Mr. Golden A. Halo, an elderly alumnae of SU, has been thinking about establishing a trust fund for 

  his granddaughter’s SU tuition.  He plans to make equal, annual payments, beginning four years

  from today, into an account that will yield 8 percent per year.  If he makes seven payments, how 

  much will each have to be so that his granddaughter will have $80,000 to begin her SU studies in 

  eleven years?  [Hint:  An end of period or beginning of period problem?  Draw a good time line!!]

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: UT Austin
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