Kerry and rob just had their first child helene being, Financial Management

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Kerry and rob just had their first child helene being

Kerry and Rob just had their first child, Helene. Being financially responsible parents, they want to start saving for Helene's college education so that they will have $355,000 by the time she is 18. Assuming that they have $10,000 in a bank account that pays 5% interest compounded monthly today, how much must they add to the account each month to have $355,000 by the time Helene is 18?

approx. $854

approx. $1021

approx. $743

approx. $655

approx. $946

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