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To help save for your ifhild's university education, you deposit $3,000 today into an account that pays 10% per year. You plan to make 3
To help save for your ifhild's university education, you deposit $3,000 today into an account that pays 10% per year. You plan to make 3 more deposits at the end of each of the next three years. Each subsequent deposit is $2,000 higher than the previous one. 1. How much money would you have accumulated towards the university tuition by the end of three years? (4 points) 2. Is this a good investment? (1 point)
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