Asked by Kim

Isabelle wants to save up an amount of $150,000 for her son's college education fees, coming up in 5 years. Find the amount that should be invested today if the bank pays an interest rate of 5% compounded annually

Answers

Answered by Reed
What does your text say about compounded interest and how to figure it?
Answered by Reed
http://www.wikihow.com/Calculate-Compound-Interest
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