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Dave and Sharon Sampson established a plan to save $120 every two weeks, starting two weeks from now, for their childrens education. Their oldest child
Dave and Sharon Sampson established a plan to save $120 every two weeks, starting two weeks from now, for their childrens education. Their oldest child is 8 years old and will begin college in 10 years. They will invest the $120 in a savings account that they expect will earn interest of 5% (APR) a year, compounded monthly, over the next 10 years. a. How much will they have saved at the end of 10 years? b. If the Sampsons want to save $50,000 by the end of 10 years, how much should they save every two weeks
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