Suppose that your parents are willing to lend you 20,000 for part of the cost of your college education and living expenses. They want you to repay them the20,000, without any interest, in a lump sum 15 years after you graduate when they plan to retire and move.Meanwhile, you will be busy repaying federally guaranteed loans for the first 10 years after graduation. But you realize that you won't be able to repay the lump sum without saving up. So you decide that you will put aside money in an int
Suppose that your parents are willing to lend you 20,000 for part …
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