Having received a large inheritance, a child's parents wish to establish a trust for the child's college education. If 7 year(s) from now they need an estimated $60,000, how much should they set aside in trust now, if they invest the money at the given rate of interest. Round your answer to the nearest cent.
?
13.5 compounded quarterly
?
$__________
?
13.5 compounded continuously
?
$__________

What will be an ideal response?


23,687.36;   23,320.77

Mathematics

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A. 1.7 - x B. 1.7x C. x - 1.7 D. x + 1.7

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