Posted by **cs94** on Monday, February 11, 2013 at 1:56am.

Pam and Tim decide to start saving money for their daughter's college education. They open a college savings plan (529) with a 500 dollars initial investment and next month start to make monthly deposits of 120 dollars. If the account pays 8% compounded monthly, how much will the account be worth after 180 deposits? Be sure to include the initial investment in the computation.

## Answer This Question

## Related Questions

- Mathematics - Pam and Tim decide to start saving money for their daughter's ...
- economics - In order to have money for their daughter's college education, a ...
- Finance - 5. John and Daphne are saving for their daughter Ellen's college ...
- algebra - A grandmother is looking for a plan to finance her new grandchild’s ...
- business - . I have $2,000 that I can put away for my daughter’s college ...
- math - We deposited 7,500 dollars into a savings account which pays 3.6 percent ...
- Algebra - After one month at a new job you decide to save $50. Each month you ...
- Algebra 2 - After one month at a new job you decide to save $50. Each month you ...
- Math, rates - Which rates are equivalent? 6 U.S. dollars = 18 U.S. dollars 8 ...
- MATH - Dave takes out a 24-year mortgage of 210,000 dollars for his new house. ...

More Related Questions