Mark is planning for his daughter\'s education. She will be attending a college in 11 years. The college expenses are estimated to be $56,000 for a 4-year college.  If he can earn 7 percent APR with  monthly  compounding on a college savings plan, how much does he have to invest every month for the next 11 years? Round it to two decimal places and do not include the $ sign, e.g., 1234.56.

Answer rating: 100% (QA)

Funds required 56000 Period 11 years 132 months Interest 7 month... View the full answer