A favorite aunt wishes to establish a trust fund for her niece's math education. How much should she set aside now if she wants $75, 000, 2 years from now, and interest is compounded quarterly at 8%?

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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A favorite aunt wishes to establish a trust fund for her niece's math education. How much should
she set aside now if she wants $75, 000, 2 years from now, and interest is compounded quarterly
at 8%?
O $75,000 (1.08)
O $75,000(1.02)
○ $75,000(1.02)-16
O $75,000e-0.16
O $75,000 (1.08)
-8
-16
Calculator
MacBook Pro
Guidelines O Webcam
Transcribed Image Text:A favorite aunt wishes to establish a trust fund for her niece's math education. How much should she set aside now if she wants $75, 000, 2 years from now, and interest is compounded quarterly at 8%? O $75,000 (1.08) O $75,000(1.02) ○ $75,000(1.02)-16 O $75,000e-0.16 O $75,000 (1.08) -8 -16 Calculator MacBook Pro Guidelines O Webcam
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ISBN:
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