document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1139774>Question 1139774</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Colton's parents want to create a college fund that pays $2,600.00 paid at the end of each quarter for 5 years, if interest is earned at a rate of 5%, compounded quarterly, how much needs to be invested now for this to happen.\r<BR>\n" );
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document.write( "Colton's parents need to invest $________ </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #760303 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13203)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=760303\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "(1) The solution by the other tutor tells how much you need to invest at 5% compounded quarterly to have the lump sum of 20*$2600 = $52000 at the end of 5 years.  Since the fund is supposed to provide distributions of $2600 each quarter for 20 quarters, that is clearly not the answer you are looking for.<br><BR>\n" );
document.write( "(2) From the wording of the problem, it appears as though the parents want to make the lump sum investment at the beginning of the 5 years during which the distributions are to be made.  That is not the usual way it is done; usually the investment is made long before the beginning of those 5 years.<br><BR>\n" );
document.write( "Re-post the problem, making it clear in your statement of the problem when the initial investment is made. </SPAN>\n" );
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