A couple just had a baby. How much should they invest now at 5.7% compounded daily in order to have $35,000 for the child's

Question

A couple just had a baby. How much should they invest now at 5.7% compounded daily in order to have $35,000 for the child's education 17 years from now? Compute the answer to the nearest dollar. (Assume a 365-day year.)

Kunduz · Accepted Answer

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