Present Value. Following the birth of a child, aparent wants to make an initial
Chapter 5, Problem 41(choose chapter or problem)
Present Value. Following the birth of a child, aparent wants to make an initial investmentP0 that will grow to $50,000 for the childseducation at age 18. Interest is compounded continuously at 7%. What should the initialinvestment be? Such an amount is called thepresent value of $50,000 due 18 years fromnow.
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