Parents wish to have $80,000 available for a child's education. If the child is now 5 years old, how much money must be set aside at 6% compounded semiannually to meet their financial goal when the child is 18?

$27,602.60

Step-by-step explanation:

if the kid is 5 years old, there are 13 years left until he is 18.

Now, suppose that the parents set aside an amount A of money in the account.

As the interest is compounded semiannually is compounded two times per year.

The equation that models this situation is:

M(n) = A*(1 + p/(c*100%))^(c*n)

where:

n is our variable, in this case, years.

p is the percentage, in this case, 6%

n is the number of compounds in one unit of the variable, in this case, we have 2.

A is the initial amount, this is the thing we want to find.

Then our equation will be:

M(n) = A*(1 + 6%/(2*%100))^(2*n)

       = A*(1 + 0.03)^(2*n) = A*(1.03)^(2n)

And we want that this is equal to $80,000 when n = 13 (remember that when n = 13, the child will be 18 years old)

M(13) = A*(1.03)^(2*18) = $80,000

           A = $80,000/((1.03)^(2*18)) = $27,602.60

Then they should deposit $27,602.60 now to meet their financial goal when the child is 18.

step-by-step explanation:

we have

using a graphing tool

see the attached figure

this is a quadratic equation (vertical parabola) open up

the vertex is a > vertex

the domain of the function is all real > interval (-∞,∞)

the range of the function is the > [-6.125,∞)

the function has two x->   and

the function is increasing over the > (0.25,∞)

the function is decreasing over the > (-∞,0.25)

question

given the diagram below, what is md?

the sum of the interior angles is 360°

take away from 360 the sum of the knows angles and you will have the angle d.

360 - 108 - 108 - 72 = 72°