When your first child is born, you begin to save for college by depositing $500 per month in an account paying 6% interest per year. With a continuous stream of investment and continuous compounding, how much will you have accumulated in the account by the time your child enters college 18 years later?
A)$972.34
B)$294,467.96
C)$394,467.96
D)$66,040.45
E)$194,467.96

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The Answer of When your first child is born, you begin to save for college by depositing $500 per month in an account paying 6% interest per year. With a continuous stream of investment and continuous compounding, how much will you have accumulated in the account by the time your child enters college 18 years later?
A)$972.34
B)$294,467.96
C)$394,467.96
D)$66,040.45
E)$194,467.96

When Your First Child Is Born, You Begin to Save