SOLUTION: i have this math problem i would like to know how to do it and see the process step by step, can anyone help me? is this a compounded formula like government loans use?
Jack
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Jack
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Question 724395: i have this math problem i would like to know how to do it and see the process step by step, can anyone help me? is this a compounded formula like government loans use?
Jack and Susan have just celebrated the birth of a daughter. They want to make a onetime deposit of money into an interest-bearing account so that their daughter will have $50,000 for college at age 18. At a rate of 3.5%, compounded continuously, how much money do they need to deposit? Answer by josgarithmetic(39625) (Show Source):
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