Alex and Katie have a new grandson. How much money should they invest now so that he will have $44,000 for his college education in 18 years? The money is invested at 5.5% compounded semiannually. Question Help: DVideo Message instructor Submit Question

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter7: Conic Sections And Quadratic Systems
Section7.CM: Cumulative Review Exercises
Problem 51CM
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Alex and Katie have a new grandson. How much money should they invest now so that he will have
$44,000 for his college education in 18 years? The money is invested at 5.5% compounded
semiannually.
Question Help: DVideo Message instructor
Submit Question
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Transcribed Image Text:Alex and Katie have a new grandson. How much money should they invest now so that he will have $44,000 for his college education in 18 years? The money is invested at 5.5% compounded semiannually. Question Help: DVideo Message instructor Submit Question MacBook Air F9 F3 F1 @ # 2$ % & * 4 6 7 8 9 W E Y U 一 P D F G H K C V V SI
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