Calculation of Years Kelly Seaver has decided to start saving

Description

New solution updates


Question

Calculation of Years Kelly Seaver has decided to start saving for her daughter’s college education. Kelly wants to accumulate $41,000. The bank will pay interest at the rate of 4% compounded annually. If Kelly plans to make payments of $1,600 at the end of each year, how long will it take her to accumulate $41,000? Apr 08 2013 08:57 AM

 

Solution ID:608851 | This paper was updated on 26-Nov-2015

Price : $24
SiteLock