Having received a large inheritance, Jing-mei's parents wish to establish a trust for her college education. Seven years from now they need an estimated $120,000. How much should they set aside in trust now if they invest the money at 7.6%/year compounded quarterly? Continuously? (Round your answers to the nearest cent.) quarterly $continuously $

Having received a large inheritance, Jing-mei's parents wish to establish a trust for her college education. Seven years from now they need an estimated $120,000. How much should they set aside in trust now if they invest the money at 7.6%/year compounded quarterly? Continuously? (Round your answers to the nearest cent.) quarterly $continuously $

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 10E

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