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Jim and Dianna want to save for their child's college expenses. They find an annuity that pays 6% annual interest,

compounded monthly. If they invest in this annuity by contributing $300 per month for 10 years, how much money will they
have for the college expenses?
Round your answer to the nearest hundred dollars.
Do NOT round until you have calculated the final answer.

1 Answer

2 votes

Answer:

49200

Explanation:

Jim and Dianna want to save for their child's college expenses. They find an annuity-example-1
User Vitorvigano
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