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Jack is 2 years old Hes parents are saving to send him to a private school and need 140,000 when he is 15 years old

Jack is 2 years old

Hes parents are saving to send him to a private school and need 140,000 when he is 15 years old

They currently have 20,000 in a fund at 7% per annum until he is 15 years old

They want to make monthly contributions to another account that pays 11% with annunal compunding.

What is the monthly contribution to reach 140k at 15 years old

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