Say you want to start a college fund for a newborn You would like to make sure the account has 20 000 in it on their eighteenth

Question

Say you want to start a college fund for a newborn You would like to make sure the account has 20 000 in it on their eighteenth birthday The account you found has a 6 fixed interest rate that compounds monthly What monthly payments do you need to make to make sure there is 20 000 in 18 years Round to the nearest cent and don t include the dollar sign A

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