Having Received a Large Inheritance, a Child's Parents Wish to Establish

Multiple Choice

Having received a large inheritance, a child's parents wish to establish a trust for the child's college education. If 7 year(s) from now they need an estimated $60,000, how much should they set aside in trust now, if they invest the money at the given rate of interest. Round your answer to the nearest cent. ​
13) 5% compounded quarterly _________
​
13) 5% compounded continuously _________
​

A) $23,444.14, $24,043.68
B) $23,687.36, $23,320.77
C) $23,320.77, $23,444.14
D) $23,687.36, $23,444.14