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How much money will have accumulated by the time

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Problem 1: Saving for a College Education: As a savings program toward Alberto's college education, his parents decide to deposit $100 at the end of every month into a bank account paying interest at the rate of 6% per year compounded monthly. If the savings program began when Alberto was 6 years old, how much money will have accumulated by the time he turns 18?

Reference no: EM132750125

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