Mew parents would like to invest in their childs education, a registered education plan ia an account the accumulates 5% annual interest, compounded monthly, how much would they have to to invest now is they want 50,000$ in 18 years?
Mew parents would like to invest in their childs education, a registered education plan ia an account the accumulates 5% annual interest, compounded monthly, how much would they have to to invest now is they want 50,000$ in 18 years?
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
Problem 2MRE
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Mew parents would like to invest in their childs education, a registered education plan ia an account the accumulates 5% annual interest, compounded monthly, how much would they have to to invest now is they want 50,000$ in 18 years?
![O $2,500
$20,366.53
O $50,000
$20,776.03](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd672829b-f6c8-47b6-8835-d8cd4f1626a8%2F71991629-7b23-4ea0-b451-3867467232d1%2Fbbu2q4r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:O $2,500
$20,366.53
O $50,000
$20,776.03
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