Mathematics, 27.08.2020 07:01 carlo123

Elena’s son will enter college 16 year from now. At that time, she would like to have $20,000 available for college expenses. For that purpose, her bank will set up an account that pay 7% compounded quarterly. If she makes payment into the account at the end of each quarter, what must Elena’s payments be to achieve her goal?

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Elena’s son will enter college 16 year from now. At that time, she would like to have $20,000 availa...

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