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Author Question: Andre's wonderful parents established a college savings plan for him when he was born. They ... (Read 93 times)

jazziefee

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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.


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Sweetkitty24130

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Reply #1 on: Jul 11, 2018
Answer to Question 1

C

Answer to Question 2

D


jazziefee

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Reply 2 on: Jul 11, 2018
Great answer, keep it coming :)

mjenn52

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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