QUESTION 7
A new mother would like to start a college fund for her newborn daughter. She makes quarterly deposits of $700 into a college fund that earns 6% compounded
quarterly for the next 18 years.
How much will her daughter have available in her college fund when she turns 18? $
What is total amount the mother deposited into the fund over the 18 years? $
How much interest was earned over the 18 years?
Use the WHOLE DOLLAR AMOUNTS you entered in as your answers above.
Round to the nearest dollar
Round to the nearest dollar
Round to the nearest dollar