Attucks College predicts that in 18 years it will take $250,000 to attend the college for four years. Emma has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Emma put aside in an account with an APR of 11% compounded monthly in order to have $250,000 in the account in 18 years? Round your answer to the nearest cent, if necessary
Attucks College predicts that in 18 years it will take $250,000 to attend the college for four years. Emma has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Emma put aside in an account with an APR of 11% compounded monthly in order to have $250,000 in the account in 18 years? Round your answer to the nearest cent, if necessary
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Attucks College predicts that in 18 years it will take $250,000 to attend the college for four years.
Emma has a substantial amount of cash and wishes to invest a lump sum of money for her child’s
college fund. How much should Emma put aside in an account with an APR of 11% compounded
monthly in order to have $250,000 in the account in 18 years? Round your answer to the nearest
cent, if necessary
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