SOLUTION: how much do I need to invest at a rate of 6% for my 9 yr old twin's tuition if they both plan to attend college in 9 years for 4 years each at $25,000.00 per year? How much money d

Question 1138782: how much do I need to invest at a rate of 6% for my 9 yr old twin's tuition if they both plan to attend college in 9 years for 4 years each at $25,000.00 per year? How much money do I need to put away each year so they will have enough when they turn 18?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
for both for 4 yrs
( simple interest )

Lost my calculator. Solve for
The 2nd part is:

RELATED QUESTIONS
Problem: Shenequa has narrowed her choice for which college to attend. She is most... (answered by Fombitz)

You have taken a job as a financial consultant, and your first clients arrive in your... (answered by bigbaby)

New parents want to put a lump-sum into a money market to provide $41,000 in 18 years to... (answered by stanbon)

Sam Long anticipates he will need approximately $226,600 in 13 years to cover his... (answered by ikleyn)

the cost of tuition to the college of your choice for all 4 years is estimated to be... (answered by Boreal)

Craig and Susan Miller had just returned from their honeymoon trip in the Whitsundays.... (answered by Fombitz)

Nico is saving money for his college education. He invests some money at 9%, and... (answered by ankor@dixie-net.com)