英语翻译
The Johnson family is worried about their ability to pay college tuition for their daughter Chloe.Tuition rates are currently $9,500 per year at the state college and have been increasing at a rate of 7% annually.Chloe will begin college in 7 years.The Johnson’s have $9,500 set aside now in a college plan that will earn 6% per year.They recently heard about a plan to pre-pay tuition at current rates,that is pay $9,500 per year of college.Should they pre-pay Chloe’s first year now or keep the money invested and pay the tuition 7 years from now?How much are they saving in FV terms with this decision?