A man wants to set up a 529 college savings account for his granddaughter. How much would he need to leposit each year into the account in order to have $60,000 saved up for when she goes to college in 16 rears, assuming the account earns a 5% return. Annual deposit: S
A man wants to set up a 529 college savings account for his granddaughter. How much would he need to leposit each year into the account in order to have $60,000 saved up for when she goes to college in 16 rears, assuming the account earns a 5% return. Annual deposit: S
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Transcribed Image Text:A man wants to set up a 529 college savings account for his granddaughter. How much would he need to
deposit each year into the account in order to have $60,000 saved up for when she goes to college in 16
years, assuming the account earns a 5% return.
Annual deposit: $
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