Question:
Mr. and Mrs. Evans hope to send their daughter to college
Last updated: 8/11/2022
Mr. and Mrs. Evans hope to send their daughter to college in thirteen years. How much money should they invest now at an interest rate of 8% per year, compounded continuously, in order to be able to contribute $8000 to her education? Do not round any intermediate computations, and round your answer to the nearest cent.