Kayla O.

asked • 05/17/19

Following the birth of a child

Following the birth of a child, a parent wants to make an investment P 0 that will grow to $60,000 for the child’s education at age 18. Interest is compounded continuously at 7%. What should the initial investment be? Such an amount is called the present value of $60,000 due 18 years from now. The present value is about....

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