The Clark family began savings for their child's college 17 years ago. Each year they contributed $ 6700 per year at the end of each
The Clark family began savings for their child's college 17 years ago. Each year they contributed $6700 per year at the end of each year. In year 2, Clarks were able to contribute an extra $2500 in addition to the usual $6700 contribution. Using an interest rate of 4.50%, how much do they have accumulated in their child's college fund?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the total amount accumulated in the childs college fund well need to consider the annual contributions made by the Clark family and the i...
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Step: 2
Step: 3
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Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
