College Savings Tom and Anita have a new baby and want to start saving for college. The
Chapter 6, Problem 75(choose chapter or problem)
College Savings Tom and Anita have a new baby and want to start saving for college. The average tuition, fees, and room and board charges at a public four-year institution totaled $15,213 in 20082009. Assuming a 6% annual increase, this cost will rise to $43,423 when their child begins college in 2026. How much do they need to invest in 2010 at 8% per annum compounded continuously to afford 1 year at a public 4-year institution in 2026? Source: Trends in College Pricing 2009, College Board
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