parents wish to have $150,000 available for a childs education. if the child is now 5 years old, how much money must be set aside at 8% compounded semiannually to meet their financial goal when the child is 18? the amount (rounded to the nearest dollar) that should be set aside is?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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parents wish to have $150,000 available for a childs education. if the child is now 5 years old, how much
money must be set aside at 8% compounded semiannually to meet their financial goal when the child is 18?
the amount (rounded to the nearest dollar) that should be set aside is?
Transcribed Image Text:parents wish to have $150,000 available for a childs education. if the child is now 5 years old, how much money must be set aside at 8% compounded semiannually to meet their financial goal when the child is 18? the amount (rounded to the nearest dollar) that should be set aside is?
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