SOLUTION: Mark and Kate are establishing a fund for their son's college education. They would like $60,000 in the fund at the end of 10 years What lump sum must they deposit in an account th

Algebra ->  Customizable Word Problem Solvers  -> Unit conversion -> SOLUTION: Mark and Kate are establishing a fund for their son's college education. They would like $60,000 in the fund at the end of 10 years What lump sum must they deposit in an account th      Log On

60000 =  = ,


where X is the unknown lump sum.


From the equation,


    X =  = $27031.41.     ANSWER