A couple plans to invest money for the chld's education. What principle must the couple deposit when their child is born so that when she turns 18 she will have $50,000. Assume the money earns 6% compounded monthly.

Compute the amount in t years if a principal P is invested at an annual interest rate of r compounded as given. Round to the nearest cent.

P = $480, t = 4, r = 14% compounded quarterly.

$350000.00 wants to be save in 34 years he gets 4.2 % interest how much do you need to deposit quarterly?

To calculate the principle the couple must deposit, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A = the future value of the investment ($50,000 in this case)
P = the principal amount (what we need to find)
r = the annual interest rate (6% in this case)
n = the number of times interest is compounded per year (12, since the money is compounded monthly)
t = the number of years (18 in this case)

Substituting the values into the formula, we have:

$50,000 = P(1 + 0.06/12)^(12*18)

Now, let's solve for P:

$50,000/(1 + 0.06/12)^(12*18) = P

Using a calculator or spreadsheet, we can calculate this expression to find the principal amount P. In this case, P is approximately $14,562.35.

Therefore, the couple must deposit approximately $14,562.35 when their child is born to have $50,000 when she turns 18, assuming the money earns 6% compounded monthly.