Suppose that a family wants to start a college fund for their child. If you can get an APR of 7.5% and want the fund to have a value of $75,000 after 18 years, how much should you deposit monthly? Assume an ordinary annuity.
a.
$164.98
c.
$166.21
b.
$165.30
d.
$167.52
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Home » Mathematics » Suppose that a family wants to start a college fund for their child. If you can get an APR of 7.5% and want the fund to have a value of $75,000 after 18 years, how much should you deposit monthly? Assume an ordinary annuity. a. $164.98 c. $166.21 b.