Your child will go to the college in 2024 and you are building
financial plan to prepare for the college tuitions and fees. The
expected cash flow you need in first year is $40,000 and increases
by 5% per year. Tuition is due on August 31st each year in 2024,
2025, 2026, and 2027. You will deposit the same amount of money
every month from August 31st, 2018 to August 31st, 2024. If you
believe that you can earn 4%...