Question
Jack and Jill decide to start saving money for their daughters college education. They open a college savings plan (529) with a $500 initial investment
Jack and Jill decide to start saving money for their daughters college education. They open a college savings plan (529) with a $500 initial investment and next month start to make monthly deposits of $100. If the account pays 8% compounded monthly, how much will they have in the fund after 180 deposits?
Can you show detailed working and formulas for the problem?
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Economics Of Money Banking And Financial Markets
Authors: Frederic Mishkin
5th Edition
0134734203, 978-0134734200
