3-13. What would be the monthly payment if the loan in the preceding prob lem were paid off in monthly installments, with an annual percenta rate of 12 percent and interest compounded monthl? . With a Coverdell Educational Savings Account individuals are allowed to place $2.0 ition. How much will the average student have accumulated when she enters college after saving in one of these plans for 18 years and eaning ear into an "educational IRA" to be used for college bu- 3-13. What would be the monthly payment if the loan in the preceding prob lem were paid off in monthly installments, with an annual percenta rate of 12 percent and interest compounded monthl? . With a Coverdell Educational Savings Account individuals are allowed to place $2.0 ition. How much will the average student have accumulated when she enters college after saving in one of these plans for 18 years and eaning ear into an "educational IRA" to be used for college bu