You want to send your grandchild to a very prestigious university. You heard that a college education will cost $800,000 in 18 years. If you invest $10,000 at the end of each year, what IRR will you need in order to reach your goal of $800,000?
A) 12.46%
B) 13.65%
C) 18.00%
D) 15.52%

Question

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The Answer of You want to send your grandchild to a very prestigious university. You heard that a college education will cost $800,000 in 18 years. If you invest $10,000 at the end of each year, what IRR will you need in order to reach your goal of $800,000?
A) 12.46%
B) 13.65%
C) 18.00%
D) 15.52%

You Want to Send Your Grandchild to a Very Prestigious