Question: Learning U20- 1529 c. Shown below is a rough estimate that Her to attend college. He has asked you to review his plan. henry prepared

 Learning U20- 1529 c. Shown below is a rough estimate that
Her to attend college. He has asked you to review his plan.

Learning U20- 1529 c. Shown below is a rough estimate that Her to attend college. He has asked you to review his plan. henry prepared to accumulate funds for his daughter, Heidi, Funds will be needed when she enters college in 10 years. During these 10 years, Henry plans to save $450 at the end of each month The account will earn 6% compounded monthly withdrawals during four years of college: $2.000 at the end of each month Savings period - 10 years Withdrawal period - 4 Yrs. 11117 IIII $450 deposited at the end of each month $2000 taken out at the end of each month a. Find the total amount Henry needs to have accumulated when Heidi starts college so that he can send her $2000 for each month she is in school? N B/y= PV- PMT= FV= 1 8b. How much will Henry accumulate during his savings time? N= i/ys PV= PMT FV= Learning Unit 20- 1 529 c. Will Henry's savings plan provide for the needed amount? NO YES or (circle your answser) Show work here: 8d. Assuming Henry does not want to reduce the withdrawal amount and cannot increase the earnings rate, how much does he need to save each month to reach his goal? Na i/y= PVE PMT= FV=

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