Ann and Tom want to establish a fund for their​ grandson's college education. What lump sum must they deposit at a 12​% annual interest​ rate, compounded monthly​, in order to have ​$50,000 in the fund at the end of 15 ​years?

da freeck kinda math is this just drop out

step-by-step explanation:

85.560%

step-by-step explanation:

conditional probability is defined as:

p(a|b) = p(a∩b) / p(b)

in other words, the probability that a occurs, given that b has occurred = the probability that both a and b occur / the probability that b occurs.

in this example:

p(turns 64 | turns 44) = p(turns 64 & turns 44) / p(turns 44).

if someone turns 64, they must have already turned 44, so:

p(turns 64 | turns 44) = p(turns 64) / p(turns 44)

on page 42, we see that of the original 100,000, 94944 turn 44, and 81234 turn 64.   therefore:

p(turns 64 | turns 44) = 81234 / 94944

p(turns 64 | turns 44) = 0.85560

i believe it's a.

i'm not sure on this one, most likely correct.