Solve the Problem. -You Want to Have a $40,000 College Fund in 6

question 187

Multiple Choice

Solve the problem.
-You want to have a $40,000 college fund in 6 years. How much will you have to deposit now in an account with an APR of 5% and annual compounding?

• A)$24,949.06
• B)$31,930.99
• C)$28,949.30
• D)$29,848.62

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