To determine how much you must save each year to have enough for your daughter's college education, you would use the present value of $1 tables.

Question

Quizplus · Accepted Answer

To determine how much you must save each year, you would use the future value of an annuity table or formulas, not the present value of $1 tables, which are used to determine the current value of a future sum.

To Determine How Much You Must Save Each Year to Have