Hale College predicts that in 12 years it will take $200,000 to attend the college for four years. Hannah has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Hannah put aside in an account with an APR of 8% compounded monthly in order to have $200,000 in the account in 12 years? Round your answer to the nearest cent, if necessary.
Hale College predicts that in 12 years it will take $200,000 to attend the college for four years. Hannah has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Hannah put aside in an account with an APR of 8% compounded monthly in order to have $200,000 in the account in 12 years? Round your answer to the nearest cent, if necessary.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 65SE: Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount...
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Hale College predicts that in 12 years it will take $200,000 to attend the college for four years. Hannah has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Hannah put aside in an account with an APR of 8% compounded monthly in order to have $200,000 in the account in 12 years? Round your answer to the nearest cent, if necessary.
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