Mychaelle wants to have at least $200,000 for each newborn twin to go to college at age 18. Each set of grandparents decides to set up a college fund for an individual twin. Twin A has a college fund that contributes $7,500 per year and earns 5%. Twin B has a savings account that contributes $6,250 per year and earns 7%. Which account garnered more and will Mychaelle have enough for each twin to go to college?

Answer rating: 100% (QA)

Lets first calculate the total amount needed for each twin to have 200000 for c... View the full answer