Question
Suppose that you wish to save for you child's university education by opening up a savings account. You plan to deposit $100 per month into
Suppose that you wish to save for you child's university education by opening up a savings account. You plan to deposit $100 per month into the account for the next 18 years. Assume that you will be able to earn 10%, compounded monthly, on your investment. How much will you have accumulated at the end of 18 years?
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
11th Edition
1264413041, 9781264413041
