In order to save for your child's college education, you want to save $300 every month for 15 years, starting one month from now. The monthly interest rate on your savings account is 0.4%. How much money will you have in your account in 15 years?

In order to save for your child's college education, you want to save $300 every month for 15 years, starting one month from now. The monthly interest rate on your savings account is 0.4%. How much money will you have in your account in 15 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 33P

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