If you wish to accumulate $200,000 in the child’s college fund after 1

If you wish to accumulate $200,000 in the child’s college fund after 18 years, and can invest at a 7.5% annual
rate, how much must you invest at the end of each year if the first deposit is made at the end of the first year?

What will be an ideal response?

ANSWER

$5,605.79