As of today, Angela has $ 37937. She wants to save this money until her daughter...
As of today, Angela has $ 37937. She wants to save this money
until her daughter goes to college. If she can earn an average of
3.5%, compounded annually, she will have saved $ x when her
daughter enters college 9 years from now.
Homework Answers
| Amount deposited today | 37937 | |||
| Rate of interest earned | 3.50% | |||
| Future value factor for 89th year at 3.50% | 1.362897 | |||
| Amount in accounts at the end of Year-9 | 51704.22 | |||
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