B M.

asked • 09/24/19

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.)

Quarterly $_____

Continuously $_____

This problem really confused me. I didnt know how to finish the problem. Thank you for any help!

1 Expert Answer


Peter K. answered • 09/24/19

5 (9)

Experienced and Knowledgeable Mathematics and Physics Tutor

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