Suppose an Individual Wants to Have $160,000 Available for Her

question 122

Multiple Choice

Suppose an individual wants to have $160,000 available for her child's education. Find the amount that would have to be invested at annual rate 7%, compounded continuously, if the number of years until college is 10 years. Round your answer to the nearest cent. ​

• A) $73,508.13
• B) $66,697.92
• C) $79,453.65
• D) $58,860.71
• E) $89,285.62

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Definitions:

Yard Maintenance

The routine tasks involved in keeping a yard, garden, or landscape clean, neat, and healthy.

Tree Removal

The process of removing a tree from its standing position due to factors like disease, safety hazards, or landscaping changes.

Plastic Irrigation

A method of supplying water to plants using plastic pipes and tubes, aiming for efficiency and conservation in agriculture or gardening.

Bubbler

A drinking fountain that emits a bubbling stream of water.