Short Answer
Mrs. Vandenberg has just deposited $5,000 in each of three savings plans for her grandchildren. They will have access to the accumulated funds on their 19th birthdays. Their current ages are 12 years, 7 months (Donna); 10 years, 3 months (Tim); and 7 years, 11 months (Gary). If the plans earn 8% compounded monthly, what amount will each grandchild receive at age 19?
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Donna = $8,340.04; T...View Answer
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