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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