Suppose someone wants to accumulate 550.000 for a college fund over the 15 years Determine whether the following investment plans will allow the person to reach the goal Assume the compoundng and payment periode are the same The person deposit $125 per mon into an account with an Art of 5%
Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
A. No, because the amount that will be in the college fund, $ is less than the goal of $50,000.
B. Yes, because the amount that will be in the college fund, $ is more than the goal of $50,000.
