Parents wish to have $ 80 comma 000 available for a child's education. If the child is now 5 years old, how much money must be set aside at 5 % compounded semiannually to meet their financial goal when the child is 18?

The amount that should be set aside is $

=

Question

Amiah Bailey

1 February, 16:50

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Lisa Fisher · Answer 1

Find 5% first then you can figure the rest out

Parents wish to have $ 80 comma 000 available for a child's education. If the child is now 5 years old, how much money must be set aside at 5 % compounded semiannually to meet their financial goal when the child is 18?The amount that should be set aside is $=