Business, 24.11.2020 02:30 nora45102p45bzz

Seth was born today. Harold and Maude Clark anticipate that Seth will begin college at age 18. College education expenses are $25,000 per year in today’s dollars and are expected to increase at an annual rate of six percent. The Clarks can earn an after-tax annual return of 12 percent. How much should the Clarks deposit at the end of each year to pay for Seth’s education. The last deposit will be made when Seth reaches his 18th birthday and he will attend college for four years. A. $4,722.99B. $5,292.50C. $3,335.67D. $2,435.99

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