Posted by denise on .
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 $100,000 when the child reaches age 18? Assume the money earns 4% interest, compounded quarterly.

math 
Steve,
p(1+.04/4)^(4*18) = 100000
p = 48849.61