Question: Please help! Future Value Computation Herman Lee has decided to start saving for his daughter s college education by deposicing 53.500 at the end of

Please help!

Future Value Computation Herman Lee has decided to start saving for his daughter s college education by deposicing 53.500 at the end of every year for 15 years. He has determined that he will be able bo eam 65 interest compounded antualy. He hopes to have at least 160,000 when his daughter stars college in 15 years (a) How much will he have saved? (b) wil his savings plan be successful? Round to the nearest dellar. Use Excel coia financial calculator for computation

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