R ina wants to establish a college fund for her newborn daughter that will have accumulated $120,000 at the end of 18 yr. If she can count on an interest rate of 6%, compounded monthly, how much should she deposit each month to accomplish this? This problem appears as Exercise 95 in Section R.2.
CITATION STYLE
Partee, B. H., Ter Meulen, A., & Wall, R. E. (1993). Basic Concepts of Algebra (pp. 247–253). https://doi.org/10.1007/978-94-009-2213-6_9
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