Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kevin deposits $1423.62 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $85,000 in
Kevin deposits $1423.62 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $85,000 in 12 years. How much of the $85,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary. Answer How to enter your answer (opens in new window) Amount Kevin will deposit: $ Interest earned: Formulas Keypad Keyboard Shortcuts
Step by Step Solution
★★★★★
3.49 Rating (149 Votes )
There are 3 Steps involved in it
Step: 1
The detailed ...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Mathematical Applications for the Management Life and Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
11th edition
9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042
