What lump sum do parents need to deposit in an account earning 10%, compounded monthly, so that it will grow to $80,000 for their son's college fund in 16 years? (Round your answer to the nearest cent.) %24
What lump sum do parents need to deposit in an account earning 10%, compounded monthly, so that it will grow to $80,000 for their son's college fund in 16 years? (Round your answer to the nearest cent.) %24
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 14PROB
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