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4. A couple wants to save college fund for their child of 10 years old. They plan to save $100,000 when their child turn
Posted: Sat Nov 27, 2021 5:33 pm
by answerhappygod
- 4 A Couple Wants To Save College Fund For Their Child Of 10 Years Old They Plan To Save 100 000 When Their Child Turn 1 (20.32 KiB) Viewed 45 times
4. A couple wants to save college fund for their child of 10 years old. They plan to save $100,000 when their child turns into 18. Assume 5% annual interest rate. a. If interest is compounded annually, how much should they deposit at the end of each year? b. If interest is compounded monthly and they make quarterly deposit, how much should they deposit at the end of each quarter?