Solve the problem.Saving for college.   The average cost of a B.A. at a private college in...

Solve the problem.

Saving for college.   The average cost of a B.A. at a private college in 2030 will be $140,000 (U.S. Department of Education, www.ed.gov). The principal that must be invested at interest rate r compounded annually to have A dollars in n years is given by the algebraic expression

What amount must Melanie’s generous grandfather invest in 2012 at 7% compounded annually so that Melanie will have $140,000 for her college education in 2030?