1. ## financial mathematics

a family wishes to accumulate $50000 in a college education fund att rhe end of 20 years. If they deposit$1000 in the fund at the end of each of the first 10 years and $1000+X in the fund at the end of each of the second 10 years, find X to the nearest dollar if fund earns an effective interest annual rate of 7% 2. Do it in 3 steps: 1:$1000 deposited for 10 years at 7% annually = 13,816.45

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# a family wishes to accumulate 50000 in a college education

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