You have a child named Sarah. Sarah is five years old and you'd like to
start saving for her college education. You would like her to go to University for four years starting when she is age 18. Assume that the current cost of University is $47,000 and that this cost will increase at the rate of 4.5% per year.
First year cost = 83293.22 Second year cost = 87,041.41 Third year cost =90,958.27 Forth year cost =95,051.40 we must... View the full answer