A couple plans to invest money for the chld's education. What principle must the couple deposit when their child is born so that when she turns 18 she will have $50,000. Assume the money earns 6% compounded monthly.

Answer 1

Compute the amount in t years if a principal P is invested at an annual interest rate of r compounded as given. Round to the nearest cent.

P = $480, t = 4, r = 14% compounded quarterly.

Answer 2

$350000.00 wants to be save in 34 years he gets 4.2 % interest how much do you need to deposit quarterly?