Author Question: Andre's wonderful parents established a college savings plan for him when he was born. They ... (Read 76 times)

jazziefee · **on:** Jul 11, 2018

Andre's wonderful parents established a college savings plan for him when he was born. They
deposited 50 into the account on the last day of each month. The account has earned 10.9
compounded monthly, tax-free.

How much can they withdraw on his 18th birthday to spend on
his education?
A) 43,730 B) 30,028 C) 33,307 D) 27,560

Question 2

Another name for the lump sum cash flow that occurs when a bond matures is the:

A) face value.
B) maturity value.
C) par value.
D) All of the above could be used to describe the cash flow in question.