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2. i. Mr. h. wants to save $80,000 for his son to go to Stanford. How much money at 5% interest does he need to invest if he has 10 years (compounded monthly)? ii. How much mone…

2. i. Mr. h. wants to save $80,000 for his son to go to Stanford. How much money at 5% interest does he need to invest if he has 10 years (compounded monthly)? ii. How much mone…
asked 124k views
3 votes
2. i. Mr. h. wants to save $80,000 for his son to go to

Stanford. How much money at 5% interest does he need
to invest if he has 10 years (compounded monthly)?
ii. How much money per month would he have to invest to
reach the same goal?

asked
User Heroselohim
by
7.4k points

1 Answer

5 votes

Explanation:

$80,000×5×10/100= 40,000

answered
User Sifeng
by
8.1k points
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