Suppose an individual wants to have $200,000 available for her child's education. Find the amount that would
Question:
Suppose an individual wants to have $200,000 available for her child's education. Find the amount that would have to be invested at 12%, compounded continuously, if the number of years until college is
(a) 7 years........ (b) 14 years.
(c) Does leaving the money invested twice as long mean that only half as much is needed initially?
Explain why or why not.
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S Pe rt a 200000 Pe 012 7 Pe 084 200000 P23163670 b 200000 Pe 01...View the full answer
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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