Payments to Fund Future Target Amount. Liam and Tara Gleason want to have 275,000 available to fund their daughter’s college education in 16 years. They are relatively conservative investors and...

Payments to Fund Future Target Amount. Liam and Tara Gleason want to have
275,000 available to fund their daughter’s college education in 16 years. They are relatively conservative investors and expect to earn 5 percent per year on their portfolio. How much would the Gleason’s need to invest every year to have the desired275,000 available in 16 years?