SOLUTION: Shaun and Rebecca have a new grandson. How much money should they invest now so that he will have $43000 for his college education in 18 years? The money is invested at 4.95% compo

Algebra ->  Finance -> SOLUTION: Shaun and Rebecca have a new grandson. How much money should they invest now so that he will have $43000 for his college education in 18 years? The money is invested at 4.95% compo      Log On


   

Question 1181325: Shaun and Rebecca have a new grandson. How much money should they invest now so that he will have $43000 for his college education in 18 years? The money is invested at 4.95% compounded semiannually.
Answer by ikleyn(52765) About Me  (Show Source):
You can put this solution on YOUR website!
.

Go to the lesson

    - Compounded interest percentage problems

in this site.

Find the full theory and TWINS solved problems to yours.

Consider them as your TEMPLATES.

Having these templates in front of you, solve your problem in the same way.


After reading this lesson, you will tackle such problems on your own without asking for help from outside.