The Tanners have received an $8000 gift from one of their parents to invest in their child’s college education. They estimate that they will need $20,000 in 12 years to achieve their educational goals for their child. What interest rate compounded semiannually would the Tanners need to achieve this goal?
The Tanners have received an $8000 gift from one of their parents to
invest in their child’s college education. They estimate that they
will need $20,000 in 12 years to achieve their educational goals for
their child. What interest rate compounded semiannually would the
Tanners need to achieve this goal?
