Situation
You will describe two scenarios in which two sets of parents come to you with their financial status. Determine the best way for them to invest their funds in preparation for their children's college education. Use logarithm functions to express the interest compounded annually and use a graph format to show how long it will take to accumulate 'x' amount of dollars.
Performance Task
Prepare a 2 page summary of your findings. Create two scenarios in which two different sets of parents with two different financial needs/status and discuss what you would advise as their financial adviser. Include the following in your findings:
A current financial quote of each family, including savings, salaries, etc.
A current average college tuition based on the families projected 'ideas' of what kind of colleges their children will attend.
This does not have to be REAL, but if you are interested in attending college, look up some of the colleges you would go to and find their tuition! This is a great opportunity to explore some college options and costs.
Current interest compounded annually on different investments.
A logarithmic function that expresses the investment that you are advising.
A graphic display of the interest compounded annually and the amount of time it will take to reach their goal.