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You begin to save for your newborn childs college education by depositing $200 per month in an account paying 4% interest per year. You increase the amount you deposit each month by 5% each year. With continuous investment and compounding ... incipal will have been investe (nearest $100) B. What would be the average monthly payment over those 18 years? (nearest $1) C. How much will have accumulated in the account by the time your child enters college 18 years later? (nearest $100)

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Answer #1

.Sol-lion;- -As -the -follows * principal = 卓见00 Total yeas. 18 l00 210 he el Cach years iven bel。ω-mal Total-il-e vesl|丹.the end o he estl Total lo 58 yer |(Deposile drpošks eoryEav year -Amoun 120 120158 120 120 36.89 120 32ff 120 | 38.88 120 4-5 33 120 51 84 120153 升 20 65.86 120 I-T3.30 320 446 560 680 800 920 040 160 280 0 58 330 58 2 26 3 466. 59 G01 63 54 52 90 24 I066.16 133.39 403 23 158 95 1寸6千-81 196-11 3162-1 3 와24 t 63 千52 loT 29 46.16 191 39 9, 301 95 36 4 8 441 1) 522. 4 120 12,0 | 89. 120H 43 152%0 1640 げ60 880 1 03 611 2 2,31. 2) 08.64 15 2588.64.

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