Math  /  Algebra

QuestionJames deposits \1440.71eachquarterintoanannuityaccountforhischildscollegefundinordertoaccumulateafuturevalueof1440.71 each quarter into an annuity account for his child's college fund in order to accumulate a future value of \95,000 95,000 in 13 years. How much of the $95,000\$ 95,000 will James ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.
Formulas

Studdy Solution
James will deposit $74916.92\$74916.92 into the account.
The interest earned will be $20083.08\$20083.08.

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