3 Suppose that a family wants to start a college fund for their child . If you can get an APR of 7.5 % and want the fund to have a value of $ 75,000 after 18 years , how much should you deposit monthly ? Assume an ordinary annuity
Answer: 440 grams for 1.54 is the better value
Explanation:
Take the price and divide by the number of grams
1.54 / 440 =0.0035 per gram
1.26 / 340 =0.003705882 per gram
0.0035 per gram < 0.003705882 per gram