A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born to have $43,000 when the child reaches the age of 18? Assume the money earns 8% interest compounded quarterly. (Round your answer to two decimal places.)

Answer 1

will someone please help me? I need the answer

Answer 2

P(1 + .08/4)^(4*18) = 43000
P = 10333.70