The grandparents of a new baby decide that they will try and provide funds for the grandchild's education. They set up an education savings account with their local credit union. They commit to paying $200 into the account monthly for the next 10 years. The account will yield 5.90 percent per annum, compounding monthly. How much will be available for the grandchild's education in 10 years?

Answer rating: 100% (QA)

To calculate the amount that will be available for the grandchilds education in 10 years we can use ... View the full answer