Andrea M.

asked • 05/24/20

How much money must your uncle give you now to finance 4 years of college, assuming an annual cost of $48,000 & an interest rate of 6% (applied to the principal until disbursed)?

I know the answer to this is $166,325.07, How do I get this answer? What formula do I use? I know it is present value of annuity but how do I get this formula

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