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You would like to contribute $50,000 towards your grandchild’s college education 15 years from now. How much money must you set aside today for this purpose if you believe you can earn 8% on your in

You would like to contribute $50,000 towards your grandchild’s college education 15 years from now. How much money must you set aside today for this purpose if you believe you can earn 8% on your investment? (Show calculation)

You have won a contest that will pay you $10,000 a year at the end of each of the next 5 years. Based on a discount rate of 8% per year, what is the annuity worth to you today? (Show calculation)

 

May 31 2021 View more View Less

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