Having received a large inheritance, Nancy's parents wish to establish a trust fund for her college education. Seven years from now, they need an estimated $120,000. How much should they set aside in trust now if they invest the money at 6.6%/year compounded quarterly? (Round your answer to the nearest dollar).
Having received a large inheritance, Nancy's parents wish to establish a trust fund for her college education. Seven years from now, they need an estimated $120,000. How much should they set aside in trust now if they invest the money at 6.6%/year compounded quarterly? (Round your answer to the nearest dollar).
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Having received a large inheritance, Nancy's parents wish to establish a trust fund for her college education. Seven years from now, they need an estimated $120,000. How much should they set aside in trust now if they invest the money at 6.6%/year compounded quarterly? (Round your answer to the nearest dollar).
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