2021CanadyRaniya
20.03.2020 •
Mathematics
Suppose you want your daughters college fund to contain $125,000 after 14 years. If you can get 7.8% compounded monthly, how much should you deposit at the end of each month?
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Ответ:
Therefore I should deposit $412.50 at the end of each month.
Step-by-step explanation:
Given that, I want my daughters college fund to contain$125,000 after 14 year. The rate of interest 7.8% compounded monthly.
To find the the deposit, we use the following formula
A = amount=$125,000
P= principal =?
r= rate of interest= 7.8%=0.078
n=12 [compounded monthly]
t= 14 years
⇒P=$412.50(approx)
Therefore I should deposit $412.50 at the end of each month.
Ответ:
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Step-by-step explanation: