evin deposits $1220.33 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $95,000 in 15 years. How much of th 95,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary. nswer ow to enter your answer (opens in new window) Amount Kevin will deposit: $ Interest earned: $ Formul Keypac Keyboard Shortcu

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
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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Round your answers to the nearest cent, if necessary.
Kevin deposits $1220.33 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $95,000 in 15 years. How much of the
$95,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.
Answer
How to enter your answer (opens in new window)
Amount Kevin will deposit: $
Interest earned: $
Formulas
Keypad
Keyboard Shortcuts
Transcribed Image Text:Kevin deposits $1220.33 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $95,000 in 15 years. How much of the $95,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary. Answer How to enter your answer (opens in new window) Amount Kevin will deposit: $ Interest earned: $ Formulas Keypad Keyboard Shortcuts
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