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Having received a large inheritance, a child's parents wish to establish a trust for the child's college education. If 7 year(s) from now they need an estimated $60,000, how much should they set aside in trust now, if they invest the money at the given rate of interest. Round your answer to the nearest cent.
13.5 compounded quarterly
$__________
13.5 compounded continuously
$__________
Life Span
The maximum duration of life that an individual of a species is capable of achieving under optimal conditions.
Sperm Cells
Male reproductive cells designed to fertilize female eggs during reproduction, playing a crucial role in the process of fertilization.
Teratogens
Agents that can cause developmental anomalies or birth defects in a developing fetus when the mother is exposed during pregnancy.
Enzymes
Biological catalysts that speed up chemical reactions in living organisms without being consumed in the process.
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