Charles estimated a minimum need of $179,000 for college education…

Question Answered step-by-step Charles estimated a minimum need of $179,000 for college education… Charles estimated a minimum need of $179,000 for college education fund for his son in 17 years when his son will start college.  Assume that after-tax rate of return that Charles is able to earn from his investment is 3.66 percent compounded annually. Charles has already earmarked $15,719 for his son education.  He understands that this amount is not enough to finance his son education. He is going to invest additional amounts each year at the beginning of the year until his son starts college. Compute the annual beginning of-the-year payment that is necessary to fund the current deficit. (Please use annual compounding, not simplifying average calculations). Business Finance FINC 3217980 Share QuestionEmailCopy link Comments (0)