Question: please explain this as if youre explaining it to a child! Question 5 (2 points) Mark is planning for his daughter's education. She will be

please explain this as if youre explaining it

to a child!

Question 5 (2 points) Mark is planning for his daughter's education. She will be attending a college in 9 years. The college expenses are estimated to be $58,000 for a 4-year college. If he can earn 5 percent APR with monthly compounding on a college savings plan, how much does he have to invest every month for the next 9 years? Round it to two decimal places and do not include the $ sign, e.g., 1234.56

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