What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it will grow to $90,000 for their son's college fund in 11 years? (Round your answer to the nearest cent.)$ _________?
What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it will grow to $90,000 for their son's college fund in 11 years? (Round your answer to the nearest cent.)$ _________?
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it will grow to $90,000 for their son's college fund in 11 years? (Round your answer to the nearest cent.)
$ _________?
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