The parents of a child have just come into a lare inheritance and wish to establish a trust fund for the child's college education. If they estimate that they will need $100000 in 13 years, how much should they set aside in the trust now if they can invest the money at 8.5% per year compounded semiannually?
business math - Reiny, Monday, February 14, 2011 at 11:42pm
x(1. 0425)^26 = 100 000
solve for x