ChassidyHyatt
New member
Having trouble doing a homework assignment. Here is my question. If you could not just answer it and explain to me how to get the answer, thanks. I'm not understanding my notes in the book and this is for an online math course.
Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 10.6% annual interest rate, compounded quarterly, in order to have $60,000 in the fund at the end of 10 years?
Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 10.6% annual interest rate, compounded quarterly, in order to have $60,000 in the fund at the end of 10 years?