Anika has 2 children Josh who was 12 and Chloe who was 7. She invested...
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Anika has 2 children Josh who was 12 and Chloe who was 7. She invested $6,000 for her son Josh (when he was 12 years old) and $5,000 for her daughter Chloe (when she was 7 years old). Interest was 5.70% compounded monthly.
a) How much would they each have when they turned 18 years old?
b) If she wanted them both to have the same amount when they turned 18, how much did she need to invest for Chloe?
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