Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 16 Your sister just had a child. She wants to start a college fund for him. She decides that in 18 years, she wants

image text in transcribed
QUESTION 16 Your sister just had a child. She wants to start a college fund for him. She decides that in 18 years, she wants to have $120,000 dollars in the account. If the account eams 8% annually, how much should your sister deposit at the end of each year? O $2,897.42 $3,204 25 $4,298.76 A $6,666.66 $7.128.34 4 pois

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions