Otto is planning for his son's college education to begin ten years from today. He estimates the end-of-the-year tuition, books, and living expenses to be $10,000 per year for a four-year degree
How much must Otto deposit today, at an interest rate of 12 percent, for his son to be able to withdraw $10,000 per year for four years of college?
A) $12,880
B) $ 9,780
C) $40,000
D) $18,950
B
Business
You might also like to view...
______ groups affect consumer behavior because they influence the information, attitudes, and aspiration levels that help set a consumer's standards.
What will be an ideal response?
Business
HR faces many challenges when conducting business. The three main challenges are
A. organizational demands, environmental influences, and employee happiness. B. environmental influences, controlling costs, and workforce planning. C. environmental influences, employee happiness, and controlling costs. D. organizational demands, environmental influences, and regulatory issues.
Business