Originally Posted by Rain Man
What's the tuition statement about?
I think that all this problem is about is identifying how much you would need to save to earn the cost of the mobile home in ten years, along with the future value of each month's savings. I just don't know what they're talking about with tuition.
Are you talking about the percentage of tuition saved? I believe it's what you said. Basically, what you will save on the investment if you pay into it monthly over a 10 year period.
Basically, I think he is saying at the end, you take your calculated FV and divide it by your actual cost of the motor home (120,000) to get you ending figure.