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Rus_ich [418]
3 years ago
15

Tara and her parents want to save at least $40,000 for college in 8 years. Which statement describes the most effective savings

plan for Tara and her parents to meet their goal? Tara and her parents should make deposits of $300 every month into a college savings account. Tara and her parents should make deposits of $450 every month into a college savings account. Tara and her parents should make deposits of $3,000 every year into a college savings account. Tara and her parents should make deposits of $4,000 every year into a college savings account
Business
2 answers:
Minchanka [31]3 years ago
4 0

Tara and her parents should make deposits of $450 every month into a college savings account.


iogann1982 [59]3 years ago
4 0

The best option for saving for college that is listed is for Tara and her parents to make deposits of $450 every month into a college savings account. Saving monthly over yearly is usually a better option because it's easier to break down monthly payments and budget for it rather than remembering once a year to put money in a college savings fund. If you need $40,000 at the end of 8 years, to find the amount you should deposit monthly goes as follows:

Take the amount of years and multiply it by 12 months in a year, (8)(12) = 96. There are 96 months between now and needing the money for college. To then find the amount to save take 96 and divide it by $40,000, the total is $417, so if they only saved $300, they would not have enough therefor saving $450 allows for the money to be there by the 8 year mark.

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Workshop and seminars

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Dumping and inefficient use of resources can define rely be curtailed by recycling, the reuse of waste and used products. Recycling process usually takes careful study to ascertain that various waste materials could actually form important raw materials in the manufacture of other new products. These innovations should be prioritized and rewarded.

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3 years ago
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notka56 [123]

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Hope this helps.

Thanks buddy.

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