Business Finance help please???????

mygirl46360

New member
Joined
Jan 26, 2010
Messages
3
Your younger sister, Jennifer, will start college in five years. She has just informed your
parents that she wants to go to Eastern State U., which will cost $18,000 per year for four
years (cost assumed to come at the end of each year). Anticipating Jennifer’s ambitions,
your parents started investing $3,000 per year five yeas ago and will continue to do so for
five more years.
How much more will your parents have to invest each year for the next five years to
have the necessary funds for Jennifer’s education? Use 10 percent as the appropriate
interest rate throughout this problem (for discounting or compounding). Round all
values to whole numbers.
 
Denis said:
Show your work please.
mygirl46360 said:
Your younger sister, Jennifer, will start college in five years. She has just informed your
parents that she wants to go to Eastern State U., which will cost $18,000 per year for four
years (cost assumed to come at the end of each year). Anticipating Jennifer’s ambitions,
your parents started investing $3,000 per year five yeas ago and will continue to do so for
five more years.
How much more will your parents have to invest each year for the next five years to
have the necessary funds for Jennifer’s education? Use 10 percent as the appropriate
interest rate throughout this problem (for discounting or compounding). Round all
values to whole numbers.
ok yea you really need to show your work. how will we know wat you did wrong if we don't have wat you want help with!?! so my problem that i want you to find out is how many people do you have in your class? divide that by 2 and then if needed round your answer to the nearest thousandths place...have fun and pm me when you get the answer.. :D
so if you had 12 people in your class? if you had 23 in your class? if you had 34 in your class...(very unlikely unless you are in collage!)? what would your answer be?
 
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