Question 1131691
How much should parents invest on each of their child's first 18 birthdays to provide $25,000 per year for the next 4 years if the investment pays 4% interest? (See Example 8.) (Round your final answer to two decimal places.)
<pre>Correct answer: If it's ANNUAL COMPOUNDING both ways, then they'll need to invest {{{highlight_green(matrix(1,3, "$3,538.54", per, year))}}}