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[solution]: William's betting rate for a bet on Ohio State winning the game


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Question 1.

Amy is 12 years old now and will attend college at age 18. Her parents plan to fund her college for four years. College costs $20,000 per year today. If her parents have saved $10,000 for this goal. Assume they can invest for 10% per year and inflation is 3.5% per year compounding annually. What?s the PV of Amy?s needs?

74,888.2

72,676.2

73,184.3

72,476.2

Question 2

  • Amy is 12 years old now and will attend college at age 18. Her parents plan to fund her college for four years. College costs $20,000 per year today. Her parents have saved $10,000 for this goal, Assume they can invest for 10% per year and inflation is 3.5% per year compounding annually.

What's the future value of what Amy's parents currently save?

10,000

14,411.7

14,823.3

Question 3

Amy is 12 years old now and will attend college at age 18. Her parents plan to fund her college for four years. College costs $20,000 per year today. If her parents have saved $10,000 for this goal, how much more do they need to save at the end of each month in order to be able to fully fund her four-year college? Assume they can invest for 10% per year and inflation is 3.5% per year compounding annually.

410.75

620.75

712.54

674.24


Answer 1

 

Answer 2

 


 

Answer 3

 


 

72,676.20

 

Interest Rate

 

Inflation rate

 

Real Rate =

 

Current Savings

 

Future value of savings

 


 

$620.75

 


 

10%

 

4%

 

6.28%

 

10,000

 

14411.66

 


 

 


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