s473simpson s473simpson

24-10-2021
Mathematics

contestada

You just had a child. You would like to have $50,000 for her college in 18 years. If the account earns 5% compounded monthly. How much will you need to deposit now to reach your goal? Round to the nearest dollar. (do not round until the very end)

Respuesta :

quinsharpey quinsharpey

24-10-2021

Answer:

Step-by-step explanation:

I=PRT

I=50000000000×5÷100×18

I= 5000000000×0.5×18

I=45,000,000,000

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