Asked by Maddie

Pam and Tim decide to start saving money for their daughter's college education. They open a college savings plan with a 400 initial investment and next month start to make monthly deposits of 100. If the account pays 8.00% compounded monthly, how much will the account be worth after 180 deposits? Be sure to include the initial investment in the computation.
Answered by economyst
An excel spreadsheet is very helpful for these kinds of calculations.
Answered by Anonymous
worth $35,935.41.
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