You are the parent of a 4-year-old girl and plan to being saving next year on her 5th birthday (on September 2, 2008) for her college education

Finance Oct 24, 2020

You are the parent of a 4-year-old girl and plan to being saving next year on her 5th birthday (on September 2, 2008) for her college education. You wish to provide $15000 per year for 4 years beginning when she is 18. How much money in 13 equal annual installments must be invested each year until she is 17 (September 2, 2020) to meet this goal if you earn 9% on your investment?