Question

Suppose that a family wants to start a college fund for their child. If you invest in an account that pays 5.5% and want the fund to have a value of $53,000 after 18 years, how much should you deposit monthly? Assume an annuity due.

Answer 1

The answer is 17040.34
Check the annuity due formula

Answer 2

Answer:

none of those are the answer these are

a.

$142.98

c.

$143.49

b.

$143.30

d.

$145.52

im not sure which one is correct but that dude is totally wrong

Step-by-step explanation: