Having received a large inheritance, a child's parents wish to establish a trust for the child's college education. If 5 year(s) from now they need an estimated $60,000, how much should they set aside in trust now, if they invest the money at the given rate of interest. 17.5% compounded quarterly _________
17)5% compounded continuously _________
A) $25,481.29, $25,170.27
B) $25,170.27, $25,933.35
C) $25,481.29, $25,011.72
D) $25,011.72, $25,170.27

Question

Quizplus · Accepted Answer

The Answer of Having received a large inheritance, a child's parents wish to establish a trust for the child's college education. If 5 year(s) from now they need an estimated $60,000, how much should they set aside in trust now, if they invest the money at the given rate of interest. 17.5% compounded quarterly _________
17)5% compounded continuously _________
A) $25,481.29, $25,170.27
B) $25,170.27, $25,933.35
C) $25,481.29, $25,011.72
D) $25,011.72, $25,170.27

Having Received a Large Inheritance, a Child's Parents Wish to Establish