Kendal Jennings has decided to start saving for his daughters college education by depositing $3,200 at the
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Kendal Jennings has decided to start saving for his daughter’s college education by depositing $3,200 at the end of every year for 18 years. He has determined that he will be able to earn six percent interest compounded annually. He hopes to have at least $90,000 when his daughter starts college in 18 years. Will his savings plan be successful? Use Excel or a financial calculator for computation. Round answer to the nearest dollar.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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