time and value money

timer Asked: Apr 1st, 2015

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) Studypool Tutor
School: Purdue University
Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors