What single sum, deposited today, into a college account earning 10% compounded semi-annually, would allow for...

What single sum, deposited today, into a college account earning 10% compounded semi-annually, would allow for the following: semi annual college payments for four years (starting 10 years from now), tuition and fee payments at the beginning of each half year over that same four year timeframe (again, starting 10 years from now), and tuition payments of $15,000 per half year over the same four years (starting 10 years from now) . (show using Excel)

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Expert Solution

Please refer to below spreadsheet for calculation and answer. Cell reference also provided -

Cell reference -

Hope this will help, please do comment if you need any further explanation. Your feedback would be appreciated.

jeff jeffy answered 1 year ago

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