Assume that your parents wanted to have $ 130,000 saved for college by your 18th birthday and they started saving on your first birthday. they saved the same amount each year on your birthday and earned 5.5 % per year on their investments.

(a) how much would they have to save each year to reach their goal?
(b) if they think you will take five years instead of four to graduate and decide to have $ 170,000 saved just in case, how much would they have to save each year to reach their new goal?

A) $4,409.8

B) $5,766.6

Explanation:

A)

To answer the first question, we must use the future value of an ordinary annuity formula:

Where:

FV = Future value of the investment

A = Value of annuity

i = Interest rate

n = number of compounded periods

Now we simply plug the amounts into the formula:

130,000 = A ((1 + 0.055)^18-1) / 0.055

130,000 = A (29.48)

130,000 / 29.48 = A

$4,409.8 = A

Therefore, the parents would have to add $4,409.8 dollars each year to the college fund.

B)

To answer the second question, we use the same formula, only the values change:

170,000 = A ((1 + 0.055)^18-1) / 0.055

170,000 = A (29.48)

170,000 / 29.48 = A

$5,766.6 = A

Therefore, to have $170,000 saved by the 18th year, the parents would have to add $5,766.6 per year to the fund.

answer; ///i believe the answer is (d) procedures to control the quailty of your product;

the correct answer option is b. a single paragraph.

explanation:

when you are thinking about paragraph​ topics, you should always choose a subject that can be adequately addressed in a single paragraph.

a paragraph is a piece of writing consisting of a few sentences that deal with a single theme. it has only a single idea that the paragraph revolves around and talks about.

so a paragraph topic must be chosen wisely where a single idea can be communicated in a single paragraph.