A family wishes to accumulate 50,000 i a college education fund by the end of 20 years. If they deposit 1,000 into the fund at the end of each of the first 10 years, and 1, 000+X at the end of each of the second 10 years, find X to the nearest unit if the fund earns 7% effective.

Respuesta :

Answer:651.73

Explanation:

1,000s20|0.07+Xs10|0.07= 50,000. Therefore,X=50,000-1,000s20|s10|=50,000-40,995.4313.81643= 651.73