,

Suppose someone wants to accumulate 75,000

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 $100 per month into an account with an APR of 8%.

Will the person meet the goal? Select the correct choice below and fill in the answer box

A.

No,

because the amount that will be in the college fund is $?, and it isless

than the goal of $75,000.

B

Yes,

because the amount that will be in the college fund, is $?and it

is more than the goal of 75,000.