The Armstrongs wish to establish a custodial account to finance their children's education. If they deposit $100 monthly for 10 years in a savings account paying 6% /year compounded continuously, how much will their savings account be worth at the end of this period? Round your answer to the nearest dollar.
A) $12,100
B) $17,654
C) $18,567
D) $16,442

Question

The Armstrongs wish to establish a custodial account to finance their children's education. If they deposit $100 monthly for 10 years in a savings account paying 6% /year compounded continuously, how much will their savings account be worth at the end of this period? Round your answer to the nearest dollar. ​
A) $12,100
B) $17,654
C) $18,567
D) $16,442

Quizplus · Accepted Answer

The Answer of The Armstrongs wish to establish a custodial account to finance their children's education. If they deposit $100 monthly for 10 years in a savings account paying 6% /year compounded continuously, how much will their savings account be worth at the end of this period? Round your answer to the nearest dollar. ​
A) $12,100
B) $17,654
C) $18,567
D) $16,442

The Armstrongs Wish to Establish a Custodial Account to Finance