Regis deposits $5000 into an account for his 10-year-old child. The account has an annual interest rate

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Regis deposits $5000 into an account for his 10-year-old child. The account has an annual interest rate of 8.5%, compounded monthly.
a. What regular monthly deposit amount is needed to make the account worth $1 million by the time the child is 55 years old?
b. Make a graph of the increasing balances.
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Discovering Advanced Algebra An Investigative Approach

ISBN: 978-1559539845

1st edition

Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke

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