Question: 4. [-14 Points] DETAILS TEAFM2 F.3.022. MY NOTES PRACTICE ANOTHER New parents wish to save for their newborn's education and wish to have $44,000 at

4. [-14 Points] DETAILS TEAFM2 F.3.022. MY NOTES PRACTICE ANOTHER New

4. [-14 Points] DETAILS TEAFM2 F.3.022. MY NOTES PRACTICE ANOTHER New parents wish to save for their newborn's education and wish to have $44,000 at the end of 16 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 8.3% compounded annually? (Round your answers to two decimal places.) $ How much interest would they earn over the life of the account? $ Determine the value of the fund after 11 years. $ How much interest was earned during the 11th year? $

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