A student wants to save $8000 for college in 5 years. How much should be put into an account that pays 5.2% annual interest compounded continuously?

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asked Nov 20, 2017 8.1k views

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A student wants to save $8000 for college in 5 years. How much should be put into an account that pays 5.2% annual interest compounded continuously?

Mathematics
high-school

Travis Castillo asked

by Travis Castillo

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1 Answer

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If compounding annually, the student will need to put $6,208.85 into the account.

Smnirven answered Nov 26, 2017

by Smnirven

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