Lisa plans to invest $300 each month for the next 17 years in a 529 account for Zach starting next month. Lisa will also put an additional $4,000 away at the end of year 10. If the account earns 8% compounded monthly, how much will be in Zach’s 529 in 17 in years?

Lisa plans to invest $300 each month for the next 17 years in a 529 account for Zach starting next month. Lisa will also put an additional $4,000 away at the end of year 10. If the account earns 8% compounded monthly, how much will be in Zach’s 529 in 17 in years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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