The Clark family began savings for their child's college 17 years ago. Each year they contributed $6700 per year at the end of each year. In year 2, Clarks were able to contribute an extra $2500 in addition to the usual $6700 contribution. Using an interest rate of 4.50%, how much do they have accumulated in their child's college fund?

Answer rating: 100% (QA)

To calculate the total amount accumulated in the childs college fund well need to consider the annual contributions made by the Clark family and the i... View the full answer