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# you need to invest to have enough money for your Child's college with interest rate 7%, if it will cost 100,000 in 18 years? Calculate the time value?...

1-Explain how you calculate how much you need to invest to have enough money for your Child's college with interest rate 7%, if it will cost 100,000 in 18 years?

Calculate the time value?

2-what is the EAR if the APR is 6% and it compounds daily?

I. To meet your goal, you have to invest today... View the full answer

1 comment
• EAR calculated for 7% as per q 1, reworking for q2 at 6%, ((1+0.00016438)^365) - 1 ....1.061831311-1 = 6.1831% or 618%
• payaljain3
• May 10, 2018 at 7:01pm

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