ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tuition for Bubba Gump University costs $10, 000 per year. Forrest Gump would like to attend, and plans on saving for the next 2 years. If he already has $4600 saved, what is the minimum amount needed to save per month to cover one year of tuition?
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$2700 per month
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$450 per month
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$225 per month
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$416.67 per month
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Explanation:
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