Multiple Choice
Solve the problem. Round to the nearest cent.
-You intend to create a college fund for your baby. If you can get an interest rate of 5.5% Compounded monthly and want the fund to have a value of $177,122 after 18 years, how much Should you deposit each month?
A) $9462.31
B) $529.91
C) $409.48
D) $481.74
Correct Answer:
Verified
Correct Answer:
Verified
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