savings plans question 12

Qu Homework: 4C: Savings Plans Question 12, 4.C.61 nll HW Score: 51.43%, 7.2 of 14 points O Points: 0 of 1 re: Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) is less than the goal of $40,000. OA No, because the amount that will be in the college fund, $ or si B. Yes, because the amount that will be in the college fund, S is more than the goal of $40,000. Suppose someone wants to accumulate $40,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $50 per month into an account with an APR of 5%. Save