Judith's granddaughter will turn 18 in 9 years and she wants to provide her with a...

   

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Judith's granddaughter will turn 18 in 9 years and she wants to provide her with a gift to assist with her college education. She has an existing account and plans to make the following additions to the account: 个 ↑ Year 234110 5 Cash Flow $4,675 $5,200 $2,600 $0 $5,200 $2,600 Existing balance in the account Required: If Judith can earn 9.70% on the account, how much money will Judith be able to give to her granddaughter -in-9 years? Judith's granddaughter will turn 18 in 9 years and she wants to provide her with a gift to assist with her college education. She has an existing account and plans to make the following additions to the account: 个 ↑ Year 234110 5 Cash Flow $4,675 $5,200 $2,600 $0 $5,200 $2,600 Existing balance in the account Required: If Judith can earn 9.70% on the account, how much money will Judith be able to give to her granddaughter -in-9 years?

Answer rating: 100% (QA)

Calculation of account balance in 9 years Interest amount Year A 1 2 3 4 5 6 7 8 9 Openi... View the full answer