Corporate Finance Assignment/ Professional Essay Writers
Jill and Joe Smith decide to begin saving for the college education of their newborn child. They estimate that they will need $20,000 on the childAcâ‚¬?cs 18th birthday, $22,000 on the childAcâ‚¬?cs 19th birthday, $24,000 on the childAcâ‚¬?cs 20th birthday, and $26,000 on the childAcâ‚¬?cs 21st birthday Acâ‚¬?o as payment for that yearAcâ‚¬?cs tuition. Assuming that they can receive 10% on their investment, how much money will they need to deposit each year on their childAcâ‚¬?cs 1st through 17th birthdays to cover the college tuition expenses?
a. Draw the Cash Flow Diagram (neatly Acâ‚¬?o with a straight edge; and label all values, and time increments). Or, you may draw this using EXCEL.
b. Use the Interest Tables in the back of the book. Show all the steps and numbers used from the tables.
c. Use EXCEL Functions to calculate A. Get Finance Help Today