Question
James deposits a fixed monthly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of$65,000 in 16years.
James deposits a fixed monthly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of$65,000 in 16years. Assuming an APR of3.4% how much of the$65,000 will James ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.
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Investing In Financial Research A Decision Making System For Better Results
Authors: Cheryl Strauss Einhorn, Tony Blair
1st Edition
1501732757, 9781501732751
