Jamie was born in May. In August, her grandparents started a \"Go to College in

Question

Jamie was born in May. In August, her grandparents started a "Go to College in France" fund with $2200,earning a fixed annual intrest rate of 75. They added an additional &2200 each year in August untill the last deposit in the year Jamie turned 18. Jamie estimated that she needed $90,000 to go start college in France. "Go to College in France" fund? Did she have enough? Sigma_ A=q^18 2200(1.07)^x=$82233.72,no Sigma_x=0^18 2200(1.07)^x=$74797.87,no $91533.97,yes $87533.83,no Sigma_x=0^18 2200(1.07)^x+2=$74797.87,no

Explanation / Answer

Ans : 2200*cvaf(7%, 18years) = 2200*33.999 = 74797.8 option B

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