1. A couple received an inheritance and plan to invest some of it for their grandchild's college...

Question:

1. A couple received an inheritance and plan to invest some of it for their grandchild's college education. How much must they invest if they would like the fund to have $100,000 after 15 years, and their investment earns 10.31%, compounded continuously?
2. What is the if $1000 is invested for 6 years at 8%, compounded continuously?
Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...