At the time of the birth of a child, a parent wants to begin a college fund that will grow to $43000 by the child's 18th birthday. Interest is compounded continuously at 9.5%. What should the initial investment (P0) be?
At the time of the birth of a child, a parent wants to begin a college fund that will grow to $43000 by the child's 18th birthday. Interest is compounded continuously at 9.5%. What should the initial investment (P0) be?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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At the time of the birth of a child, a parent wants to begin a college fund that will grow to $43000 by the child's 18th birthday. Interest is compounded continuously at 9.5%. What should the initial investment (P0) be?
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