She currently has $20,000 in a retirement account. Jane plans to invest another

Question

She currently has $20,000 in a retirement account. Jane plans to invest another $5,000 in the account today (Year 0), and then increase this amount by 4% per year over the next 40 years (Years 1 through 40). However, she has a 3-year old son, who will attend college in 15 years. Jane will suspend her contributions for four years while her son is in college, i.e., she will not make any contributions in Years 15, 16, 17, and 18. Her contribution in Year 19 will be 4% higher than the one in Year 14.

Explanation / Answer

Question isw not complete...Growth rate is given but rate of return is missing..Pl chk & repost

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