a couples daughter will beging college in 5 years and they want to set aside money today that…

a couples daughter will beging college in 5 years and they want to set aside money today that….

a couples daughter will beging college in 5 years and they want to set aside money today that will cover her college for 4 years. they plsn to make 5 annual deposits into a mutual fund investment account that returns 9% per year. they will make the first deposit of 5,000 1 year from now. since they expect their incone to grow , they plan to increase their by $10,000 in years 2 and 3. in the 4th year it will be $15,000. finally, the last deposit will be $20,000 exactly 5 years from now. what is the total amount of money in the mutual fund investment accoubt at the end of 5 years? please answer with at least 3 decimal points to the right of enough numbers.

a couples daughter will beging college in 5 years and they want to set aside money today that…