Use the Information for the Question(s)below

question 62

Essay

Use the information for the question(s)below.
Suppose that a young couple has just had their first baby,a daughter,and they wish to ensure that enough money will be available to pay for her college education.Currently,college tuition,books,fees,and other costs,average $12,500 per year.On average,tuition and other costs have historically increased at a rate of 4% per year.
-Suppose that a young couple has just had their first baby,a daughter,and they wish to ensure that enough money will be available to pay for her college education.They decide to make deposits into an educational savings account on each of their daughter's birthdays,starting with her first birthday.Assume that the educational savings account will return a constant 7%.The parents deposit $2000 on their daughter's first birthday and plan to increase the size of their deposits by 5% each year.Draw a timeline that details the amount that would be available for their child's college expenses on her 18th birthday.

---

Definitions:

Hegemony

The dominance or leadership of one social group or nation over others, often maintained through ideological or cultural means.

Bourgeois Class

A social class characterized by their ownership of capital and their related culture, habits, and lifestyle, typically contrasted with the working class.

Capitalist Society

A system of economy in which the ownership of resources and investments lies in the hands of private entities or businesses, and where market pricing, the manufacturing, and allocation of commodities are largely governed by the dynamics of competition within an open market.

Gross Sales

The total revenue generated from the sale of goods or services before any deductions are made for returns, allowances, or discounts.