Multiple Choice
Calculate how much you would need to invest now in order to fund a year of college twenty years from now, assuming a year of college costs $19,000 now and is inflating at 7%, and your investment will earn 11%. Assume continuous compounding.
A) $8537
B) $2105
C) $4685
D) $42,285
Correct Answer:
Verified
Correct Answer:
Verified
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