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Maia wishes to plan for her children's education. She wishes for them to have money for college ...

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Maia wishes to plan for her children's education. She wishes for them to have money for college ...

Maia wishes to plan for her children's education. She wishes for them to have money for college when they turn eighteen. Maia has just deposited $3,000 in each of two savings plans for her kids. They will have access to the accumulated funds on their 18^th birthdays. Jacob is 13 years and 5 months while Natasha is 11 years and 4 months old. If the plans earn 4% compounded monthly, what amount will each grandchild receive at age 18?

▸ Jacob $3,802.55
Natasha $3,715.08

▸ Jacob $3,682.55
Natasha $3,715.08

▸ Jacob $3,602.55
Natasha $3,915.08

▸ Jacob $3,642.55
Natasha $3,215.08

▸ Jacob $3,692.55
Natasha $3,215.08

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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Moh1995abdel

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