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Suppose someone wants to accumulate $75,000 for a college fund over the next 15 years. Determine whether the foliowing investment plans will alow the person

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Suppose someone wants to accumulate $75,000 for a college fund over the next 15 years. Determine whether the foliowing investment plans will alow 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% Will the person meet the goal? Select the correct choice below and fal 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 needod) A. No, because the amount that will be in the college fund, 5 is less than the goal of $75,000. B. Yes, becauso the amount that will be in the coliege fund, 4 is more than the goal of $75,000

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