Answered: Heather needs to invest to help with…

Heather needs to invest to help with her child's college fund. How much would she have to invest to have $63,400 after 11 years, assuming an interest rate of 2.16% compounded monthly?

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter13: Investment Fundamentals

Section: Chapter Questions

Problem 2DTM

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Heather needs to invest to help with her child's college fund. How much would she have to invest to have $63,400 after 11 years, assuming an interest rate of 2.16% compounded monthly?

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