Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

To help with her child's college fund, Lashonda needs to invest. Assuming an interest rate of 2.14% compounded daily, how much would she have to

image text in transcribed
To help with her child's college fund, Lashonda needs to invest. Assuming an interest rate of 2.14% compounded daily, how much would she have to invest to have $89,600 after 15 years? Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the Assume there are 365 days in each year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical financial management

Authors: William r. Lasher

5th Edition

0324422636, 978-0324422634

More Books

Students also viewed these Finance questions