The Hartman family is saving $400 monthly for Ronald's college education. The family anticipates they will need to contribute $20,000 toward his first year of college, which is in 4 years. Which best explains whether the family will have enough money in 4 years?

A. The family will not have enough money. They will have saved only $16,000.

B. The family will not have enough money. They will have saved only $19,200.

C. The family will likely have enough money. They will have saved $16,000 and have accumulated interest.

D. The family will likely have enough money. They will have saved $19,200 and have accumulated interest.

Question

Rene Fisher

Mathematics

20 May, 18:04

The Hartman family is saving $400 monthly for Ronald's college education. The family anticipates they will need to contribute $20,000 toward his first year of college, which is in 4 years. Which best explains whether the family will have enough money in 4 years?

A. The family will not have enough money. They will have saved only $16,000.

B. The family will not have enough money. They will have saved only $19,200.

C. The family will likely have enough money. They will have saved $16,000 and have accumulated interest.

D. The family will likely have enough money. They will have saved $19,200 and have accumulated interest.

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Answers (1)

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Chanel Le · Answer 1

I belive its D. Because 400 a month for 12 months comes out to $4800 a year multiply that by 4 its 19200. if there putting it in a bank then it will get intrest