Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mark and mindy are new parents.they wish to start

Mark and Mindy are new parents.They wish to start saving for their sons college education....

90.2K

Verified Solution

Question

Accounting

Mark and Mindy are new parents.They wish to start saving for their sons college education. They anticipate theyll need $150,000 in 18 years. How much should they deposit quarterly in an account that pays 7.75% per year compounded quarterly, to have the desired funds in 18 years?

a. $924.86

b. $974.76

c. $1,012.18 d. $872.46 e. $898.54

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

1. A local developer is selling homes for $125,000 with a required down payment of 6%....

Biology
1.2K views

Points 1 Question 2 Weight is a force that measures the pull on a given...

Basic Math
1.2K views

Construct a normal bell curve with the mean, the deviations from the mean, and the...

Statistics
1.2K views

Question 4 of 22 Identify the sample space of the probability experiment and Draw a...

Calculus
1.2K views

Approximate the x intercepts of the graph Use a graphing utility to check your solutions...

Algebra
1.2K views

Solve the following system of equations using LU decomposition with partial pivotin 2x16x2x3 38 3x1...

Algebra
1.2K views

Choose the correct answer below O 0 55 mg 0 55 g 0 55 kg...

Algebra
1.2K views

16 lim f x 2 0 lim f x 0 1404 lim f x 0...

Algebra
1.2K views

2 150 d m2FDJ m D 50 60 80 A E 129 5 10x 7...

Accounting
1.2K views

Kesavan operating laundry services and normally closes its accounts on 31" December each year. In...

Accounting
1.2K views

The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demand requirements over the...

Finance
1.2K views

In examining investors' preferences for dividends, it is useful to begin with the concept of...