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

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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) About Me  (Show Source):
You can put this solution on YOUR website!
+4%2A2%2A25000+=+200000+ for both for 4 yrs
+A+=+P%2A%28+1+%2B+r%2At+%29+ ( simple interest )
+200000+=+P%2A%28+1+%2B+.06%2A9+%29+
+200000+=+P%2A1.54+
+P+=+200000%2F1.54+
Lost my calculator. Solve for P+
The 2nd part is:
+200000%2F9+