Question: Suppose someone wants to accumulate $ 4 0 comma 0 0 0 for a college fund over the next 1 5 years. Determine whether the

Suppose someone wants to accumulate

40

comma

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

140

per month into an account with an APR of

8 % .

Suppose someone wants to accumulate $40 comma 000 for a college

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