Mathematics, 28.03.2020 02:44 Dkhaurithompson
Marka’s mom has invested $100/month into a 529-College Savings Plan since she was born. The plan earns 8%annually. Jon’s dad invested $200/month since the time Jon was 5 years old. Both funds earn 9% annual interest, compounded monthly, and paid at the end of the month. At the end of 18 years, who has more money saved for college?
a. Jon will have about $9,600 more than Marka.
b. Jon will have about $10,300 more than Marka.
c. Jon will have about $6,500 more than Marka.
d. None of the above.
Answers: 2
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Marka’s mom has invested $100/month into a 529-College Savings Plan since she was born. The plan ear...
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