How much interest will be earned

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Sharon convinces Dante that because school is both very expensive and very important, they must try to save a little more each month. The review their budget once more and decide that increasing their payments to $125 each month is manageable.

Problem 1: How much will they have saved by their child's 18th birthday now that they have increased their payments?

Problem 2: How much interest will be earned?

Reference no: EM132998077

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