Kevin deposits $1220.33 each quarter into an annuity account for his child's college fund. He wishes...

Kevin deposits $1220.33 each quarter into an annuity account for his child's college fund. He wishes to accumulate a future value of $95,000 in 15 years. Assuming an APR of 3.4%, how much of the $95,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.

Deposit:_______

Interest Earned:_______

Expert Solution

jeff jeffy answered 2 years ago

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