The rein family needs to have 35,000 available in 18 years when their son is ready for college if they have decided to invest in a mutual fund that compounds interest continuously at 5.2%

The amount needed to reach their goal is 87,166.85

To calculate the amount of money needed to reach their goal, we will use the formula below:

Substituting into the formula:

A = 35000()1+0.052)^18

A = 35000(1.052)^18

A = 35000(2.4905)

A = 87,166.85

Hence the amount needed to reach their goal is 87,166.85

Learn more on compound interest here: link

$14053.51

Step-by-step explanation:

Since the money is to compound continuously,

Amount at Compound Interest=P(1+r)ⁿ

Amount=$35,000

r=5.2%=0.052

n=18 years

Substituting in the above formula

35000=P(1+0.052)¹⁸

35000=P(1.052)¹⁸

We divide both sides by (1.052)¹⁸ to solve for P.

P=35000÷(1.052)¹⁸

=$14053.51

The Rein Family needs to invest $14053.51 now in order to reach their goal.

need more information

step-by-step explanation:

well what you have to do is divide 84 by 6 so theanswer

step-by-step explanation:

84 divided by 6 = 14

and that lightbulb changing party must be freaking lit!