Question
Maria put $65,000 in an education account on the day her daughter was born. If the account earned 5.05% interest compounded quarterly, what was the
Maria put $65,000 in an education account
on the day her daughter was born. If the
account earned 5.05% interest
compounded quarterly, what was the total
in the account when her daughter turned
18? Round the final answer to the nearest
cent.
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
