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Your parents have been saving for your college tuition since you were born. If you need $38,000 for your first year of college, how much should they have put into an account paying 4.25% interest compounded
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Your parents have been saving for your college tuition since you were born. If you need $38,000 for your first year of college, how much should they have put into an account paying 4.25% interest compounded annually?

User Rui Jiang
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1 Answer

1 vote

Answer: The final balance is $81,551.47.

The total compound interest is $43,551.47.

I hope this helps<3

User Adam Stone
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