A Young Couple Wants to Have a College Fund That

question 42

Multiple Choice

A young couple wants to have a college fund that will pay $25,000 at the end of each half-year for 8 years. If they can invest at annual rate of 8%, compounded semiannually, how much do they need to invest at the end of each 6-month period for the next 18 years in order to begin making their college withdrawals 6 months after their last investment? Round your answer to the nearest cent. ​

• A)$6,186.94
• B)$3,754.04
• C)$12,292.74
• D)$2,918.14
• E)$1,823.25

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Definitions:

Mensuration

The study or process of measurement, often used in the context of assessing body dimensions in medical examinations.

Calibrating

Adjusting or setting a measuring device or instrument so its output accurately corresponds to the value of the measured quantity.

Blood Pressure

The force exerted by circulating blood on the walls of blood vessels, typically measured at the arteries.

Controlled Blood Pressure

Blood pressure that is maintained within a target range through lifestyle modifications and/or medication, reducing the risk of cardiovascular complications.