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College Education Savings Calculation
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College Education Savings Calculation

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@CuteMountRushmore

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Questions and Answers

What is the present value of $40,000 to be received thirteen years from now if you can earn 6.3 percent on your funds?

  • $21,327.59 (correct)
  • $25,384.62
  • $18,925.93
  • $15,476.25
  • If you can earn 6.3 percent on your funds, how much money must you set aside today to have $40,000 in thirteen years?

  • $21,327.59 (correct)
  • $35,625.00
  • $31,467.35
  • $25,384.62
  • What is the future value of $40,000 if you invest it for thirteen years at an interest rate of 6.3 percent?

  • $84,572.80
  • $96,284.17
  • $102,520.00 (correct)
  • $107,200.00
  • If you invest $20,000 today at an interest rate of 6.3 percent, how much will it grow to in thirteen years?

    <p>$52,840.00</p> Signup and view all the answers

    How much money must you set aside today to have $40,000 in thirteen years if you can earn 6.3 percent on your funds?

    <p>$16,999.15</p> Signup and view all the answers

    What is the present value of $40,000 to be received thirteen years from now if you can earn 6.3 percent on your funds?

    <p>$16,999.15</p> Signup and view all the answers

    If you would like to give your daughter $40,000 towards her college education thirteen years from now, how much money must you set aside today if you can earn 6.3 percent on your funds?

    <p>$16,999.15</p> Signup and view all the answers

    How much should you set aside today to have $40,000 in thirteen years if you can earn 6.3 percent on your funds?

    <p>$16,999.15</p> Signup and view all the answers

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