Question

An individual is planning to set-up an education fund for his grandchildren. He plans to invest $17,500 annually at the end of each year. He expects to withdraw money from the fund at the end of 10 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 10 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Answer 1

Pv=$8105.86

Fv=$37,781.18

Pva=$691,014.62

Fva=$117426.42

Step-by-step explanation:

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