You have saved $120,000 for your child to attend college.If it is in an account earning an annual rate of 8%,how much can you take out in equal payments at the end of each of the next four years to pay for their education?
A)$30,000.00
B)$38,745.67
C)$36,230.50
D)$41,245.78

Question

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The Answer of You have saved $120,000 for your child to attend college.If it is in an account earning an annual rate of 8%,how much can you take out in equal payments at the end of each of the next four years to pay for their education?
A)$30,000.00
B)$38,745.67
C)$36,230.50
D)$41,245.78

You Have Saved $120,000 for Your Child to Attend College