A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is

Question

2 years ago

15

A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is

born in order to have $42,000 when the child reaches the age of 18? Assume the money earns 9% interest, compounded quarterly. (Round your answer to two decimal places.)

Mathematics

1 answer:

Ede4ka [16] · Answer 1 · 2022-10-08T02:54:48+03:00

Ede4ka [16]2 years ago

6 0

Answer:

The parents must deposit $9612.75 when their child is born.

Step-by-step explanation:

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