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Unformatted text preview: Enter 300000, then +/, then PV Enter 0, then PMT Enter 450000, then FV Enter CPT , then N 9.21 years 4 5 Comprehensive Problem Joannas Dad wants to deposit a sum of money immediately into an account that pays an annual interest rate of 9% so that her firstyear college tuition costs are provided for. Currently, the average college tuition cost is $15,000 and is expected to increase by 4% (the average annual inflation rate). Joanna just turned 6 Comprehensive Problem Joannas Dad wants to deposit a sum of money immediately into an account that pays an annual interest rate of 9% so that 7 Step 1  Calculate the average annual college tuition cost when Joanna turns 18. Solve for FV Enter 13, then N Enter 4, then I/Y Enter 15000, then +/, then PV Enter 0, then PMT Enter CPT , then FV...
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This note was uploaded on 01/24/2012 for the course FIN 4260 taught by Professor Victorwakeling during the Spring '12 term at Kennesaw.
 Spring '12
 VictorWakeling

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