VA family has $16,000 saved for college tuiton. They will'need $l04,000 for college expenses five years from now. If they place their money in an account with continuous compounding, what annual rate must they find to assure them of the needed $ L014,000?

Trigonometry (11th Edition)
11th Edition
ISBN:9780134217437
Author:Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Publisher:Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Chapter1: Trigonometric Functions
Section: Chapter Questions
Problem 1RE: 1. Give the measures of the complement and the supplement of an angle measuring 35°.
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please help with this question, please answer all subparts if there is any, thanks for the help.

10 A family has $116,000 saved for college tuithon.
They will'need $64,000 for c0Ilege expenses five
years from now. It they place their money in
an account with continudus Compounding, what
annual rate must they find to assure them of
the needed $L04,000?
Transcribed Image Text:10 A family has $116,000 saved for college tuithon. They will'need $64,000 for c0Ilege expenses five years from now. It they place their money in an account with continudus Compounding, what annual rate must they find to assure them of the needed $L04,000?
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