trubreeze trubreeze

10-03-2022
Mathematics

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Your parents have been saving for your college tuition since you were born. If you need $38,000 for your first year of college, how much should they have put into an account paying 4.25% interest compounded annually?

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jaliyaiscute2006 jaliyaiscute2006

10-03-2022

Answer: The final balance is $81,551.47.

The total compound interest is $43,551.47.

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