How much should jane deposit each month into her account

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Jane would like to save money for her son’s college education by making monthly deposits into an account that earns 2.9% annual interest compounded monthly. Jane’s son will be 18 in 16 years and she would like to have $45, 000 for his education when he turns 18. How much should Jane deposit each month into her account?

Reference no: EM131177465

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