Suppose an Individual Wants to Have $190,000 Available for Her

question 34

Multiple Choice

Suppose an individual wants to have $190,000 available for her child's education. Find the amount that would have to be invested at annual rate 10%, compounded continuously, if the number of years until college is 17 years. Round your answer to the nearest cent.

• A)$28,735.55
• B)$22,692.26
• C)$34,709.87
• D)$16,750.91
• E)$46,079.00

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Definitions:

Oxytocin

A hormone and neurotransmitter involved in childbirth and lactation, also contributing to behaviors such as social bonding and trust.

Contractions

The process of muscle fibers shortening and generating force, typically leading to the movement of the body or of materials within the body.

Anterior

Referring to the front or forward part of an organism or one of its structures.

Superior

An anatomical term indicating a location above or higher relative to another part of the body or structure.