Nicholas is currently in eighth grade and intends to attend a state college when he finishes high school. Nicholas’s parents cur
rently have some money invested in mutual funds, but would like to invest this money in a more secure investment now to pay for college in 4 years. If they will need $25,000, how much do Nicholas’s parents have to invest now in a 48month CD that has a rate of 4.59% compounded monthly?
