Solve the problem.A couple decides on the following savings plan for their child's college education. When the child is 6 months old, and every 6 months thereafter, they will deposit $310 into a savings account paying 9.5% interest compounded semi-annually. After the child's tenth birthday, having made 20 such payments, they will stop making deposits and let the accumulated money earn interest, at the same rate, for 8 more years, until the child is 18 years old and ready for college. How much money (to the nearest dollar) will be in the account when the child is ready for college?

Fill in the blank(s) with the appropriate word(s).


$20,978

Mathematics

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A.  +  +  +  + 
B.  +  +  +  + 
C.
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