Annuity problem-wintergreens
Problem: The Wintergreens are planning ahead for their son's education. He's eight now and will start college in 10 years. How much will they have to set aside each year to have $65000 when he starts if the interest rate is 7%?
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Amount you borrow by making quarterly deposits over next 2 years in a bank account that pays 8% compounded quarterly. How large must those deposits be?
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In addition, they plan to make quarterly deposits to an investment account to cover any shortfall in the amount required.
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The Wintergreens are planning ahead for their son's education. He's eight now and will start college in 10 years.
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Describe the organization, who are they, what industry they operate in, their mission and values, as well as what makes them different from other organizations.
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