Answered

At Westonci.ca, we connect you with the answers you need, thanks to our active and informed community. Discover detailed solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $42,000 when the child reaches the age of 18? Assume the money earns 9% interest, compounded quarterly. (Round your answer to two decimal places.)

Sagot :

nathanboylen

Answer:

The parents must deposit $9612.75 when their child is born.

Step-by-step explanation:

Hope this helps!

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.