O Sarah plans to contribute monthly to a savings account for her daughter's coll goal is $300,000 in 20 years. Assume the APR is 5.4% compounded monthly an made monthly at the end of each month, including the last month. What amou to contribute each month? Round your answer to the nearest cent. A) $756 95 B) $696 75. C $688 66 DI $459 57
O Sarah plans to contribute monthly to a savings account for her daughter's coll goal is $300,000 in 20 years. Assume the APR is 5.4% compounded monthly an made monthly at the end of each month, including the last month. What amou to contribute each month? Round your answer to the nearest cent. A) $756 95 B) $696 75. C $688 66 DI $459 57
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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Sarah plans to contribute

Transcribed Image Text:18) Sarah plans to contribute monthly to a savings account for her daughter's college education. Her
goal is $300,000 in 20 years. Assume the APR is 5.4% compounded monthly and contributions are
made monthly at the end of each month, including the last month. What amount does Sarah need
to contribute each month? Round your answer to the nearest cent.
A) $756.95
B) $696.75
C) $688.66
D) $459.57
E) $642.81
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