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A couple decides on the following plan for their child's college education: When the child is 6 months old, and every 6 months thereafter, they
A couple decides on the following plan for their child's college education: When the child is 6 months old, and every 6 months thereafter, they will deposit $310 into a savings account paying 9.5% interest compounded semi-annually. After the child's tenth birthday (20 payments), they will stop making payments and let the money earn interest, at the same rate (8 more years) until the child is 18 and ready for college. How much money ( to the nearest dollar) will be in the account when the child is ready for college?
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