Find the amount that would have to be invested

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Reference no: EM131781954

Question: Suppose an individual wants to have $200,000 available for her child's education. Find the amount that would have to be invested at 12%, compounded continuously, if the number of years until college is

(a) 7 years

(b) 14 years.

(c) Does leaving the money invested twice as long mean that only half as much is needed initially? Explain why or why not.

Reference no: EM131781954

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