A graduating high school student decides to take a year off and work to save money for college. the student plans to invest all money earned in a savings account earning 6% interest, compounded quarte

A graduating high school student decides to take a year off and work to save money for college. the student plans to invest all money earned in a savings account earning 6% interest, compounded quarterly. the student hopes to have $5,000 by the time school starts in 12 months. how much money will the student have to save each month? hint: in this problem, the interest period (i.e. per