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

Question

Quizplus · Accepted Answer

The Answer of 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

Solve the Problem. Round to the Nearest Cent