Question
When Erica was born, her parents opened an education savings plan. They deposit $100 at the end of each month into an account that earns
When Erica was born, her parents opened an education savings plan. They deposit $100 at the end of each month into an account that earns 8%/a, compounded monthly. Find the account balance on Erica's 18th birthday. How much interest is earned in total?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
7th Edition
013213683X, 978-0132136839
