You deposit $3000 on the day your child is born, increasing your deposits by 5% each year until (and including) her 18th birthday(19 deposits in all). On her 19th birthday, she will enroll in the engineering program at Ryerson. On her 18th birthday, she sets aside the account enough money to pay $10,000 a year for tuition (for 4 years: t=19 to t=22) and she spends the rest betting on crypto-currencies. How much of your hard-earned money is she throwing away :) ? (Note find the amount of money, X, she puts into the crypto-currency markets on her 18th birthday. Theinterest rate is 8%. The solution is within $2000 of the following

Question 3 options:

	141,754
	145,754
	149,754
	153,754
	None of the above

Answer rating: 100% (QA)

ANSWER E None of the above Using the interest rate formula we ... View the full answer