A young couple just had a child and wanted to immediately start college fund. They found a deal with an continuous compoundec interest rate of 9%. By the time their child turns 18, they wanted have $60,000. How much should they initially invest? Your answer
A young couple just had a child and wanted to immediately start college fund. They found a deal with an continuous compoundec interest rate of 9%. By the time their child turns 18, they wanted have $60,000. How much should they initially invest? Your answer
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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Transcribed Image Text:.Answer shoOuld be in dollars and cents. *
A young couple just had a child and wanted to immediately start
college fund. They found a deal with an continuous compoundec
interest rate of 9%. By the time their child turns 18, they wanted
have $60,000. How much should they initially invest?
Your answer
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