Answered: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 3.75% annual interest compounded daily, what is the value (in… | bartleby
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Grandparents plan to open an account on their grandchild'sbirthday and contribute each month until she goes to college. Howmuch must they contribute at the beginning of each month in aninvestment that pays 5%, compounded monthly, if they want thebalance to be 100,000 at the end of 18 years?
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