Compounded interest quaterly and continuously, Investing, Business
Having received a large inheritance, Jing-mei's parents wish to establish a trust for her college education. Seven years from now they need an estimated $130,000. How much should they set aside in trust now if they invest the money at 5.7%/year compounded quarterly? Continuously? (Round your answers to the nearest cent.)
This problem really confused me. I didnt know how to finish the problem. Thank you for any help!