find P such that
P(1 + .07/4)^(4*18) = 42000
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 7% interest, compounded quarterly. (Round your answer to two decimal places.)
2 answers
P(1.0175^72) = 42000
solve for P
solve for P
1 answer