Revere College predicts that in 18 years it will take $200,000 to attend the college for four years. Debbie wishes to save money for her child's college fund. How much should Debbie put aside in an account with an APR of 9% compounded monthly in order to have $200,000 in 18 years

Revere College predicts that in 18 years it will take $200,000 to attend the college for four years. Debbie wishes to save money for her child's college fund. How much should Debbie put aside in an account with an APR of 9% compounded monthly in order to have $200,000 in 18 years

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 6E

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