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As a savings plan to guarantee their child's college education, a couple decides to deposit $...

As a savings plan to guarantee their child's college education, a couple decides to deposit $ 100 a month into a bank account that pays interest at a rate of 6% per year compounded monthly. If the savings plan started when the child was 6 years old, how much money will he have accumulated when he turns 18?

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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

ASSUME THAT IT IS ORDINARY ANNUITY, MONEY DEPOSITED AT THE END OF EACH MONTH

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