Upon the birth of your child, your relatives gift $5,000 for a college investment account that is expected to grow at 8%. During the next 19 years, you also add an additional $100 each month to that investment. How much will the entire investment be worth in 19 years? Round your answer to the nearest whole dollar and do not use comma separators.

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Upon the birth of your child, your relatives gift $5,000 for a college investment account that is expected to grow at 8%. During the next 19 years, you also add an additional $100 each month to that investment. The future value of this investment is expected to be enough to cover the tuition expenses for four years of college. How much was invested? (This is the real cost for college, you only need to add up all the $$ that was actually put into the investment).

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You did a great job and your adult child is headed for university with a college fund of $90,000 expected to earn 8% per year. Assuming your child attends for 5 years and makes a semi-annual payment each year to the university. How much can you take out of the fund every six months while your child attends university? Assume there will be nothing left in the fund after 5 years of attending university. Round your payment to the nearest whole dollar. (Hint, Use the PMT function and set the PV = 90000 and the FV = 0.

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