The average cost of a 4-year college education is projected to be $120,000.00 in 19 years. How much money should be invested now at 4.5%, compounded quarterly, to provide $120,000.00 in 19 years? O A. $51,278.18 O B. $21,912.10 OC. $120,000.00 O D. $97,021.75

The average cost of a 4-year college education is projected to be $120,000.00 in 19 years. How much money should be invested now at 4.5%, compounded quarterly, to provide $120,000.00 in 19 years? O A. $51,278.18 O B. $21,912.10 OC. $120,000.00 O D. $97,021.75

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 14EB: How much must be invested now to receive $50,000 for 8 years if the first $50,000 is received in one...

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Question

The average cost of a 4-year college education is projected to be $120,000.00 in 19 years. How much money should be invested now at 4.5%, compounded quarterly, to provide
$120,000.00 in 19 years?
O A. $51,278.18
O B. $21,912.10
OC. $120,000.00
O D. $97,021.75

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