You have an absolutely brilliant child who is six years old and will be attending a private college
in twelve years. You know that a four-year college now costs at least $30,000 per year, including
tuition, books, and room and board.
The cost of sending a child to college has increased by 7
percent per year, and you believe this will be true for the next twelve years. How much will the
annual tuition be when your child is eighteen?
A) $67,565.75 B) $66,320.44 C) $60,365.89 D) $45,000.00
A
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Morris Company self-insures its workers compensation loss exposure. The risk manager of Morris Company is concerned about the possible impact of a single catastrophic claim
She decided to set a retention limit of $500,000 per-claim, and to purchase insurance that will be begin to pay once Morris Company has paid $500,000 on a single claim. The insurance the risk manager purchased is called A) captive insurance. B) excess insurance. C) primary insurance. D) umbrella insurance.
Most experts advise that family members
a. should not be hired unless they meet the same criteria as outside employees. b. should not be given "false" jobs'it should be real and well-defined. c. be paid based on market rates. d. all of the above.