If the parent decides instead to deposit a lump sum now in


a. A bank account earns 6 percent interest compounded continuously. At what (constant, continuous) rate must a parent deposit money into such an account in order to save $250,000 in 13 years for a child's college expenses?
Rate = ___________________(dollars/year)

b. If the parent decides instead to deposit a lump sum now in order to attain the goal of $250,000 in 13 years, how much must be deposited now?
Amount = __________________________(dollars)

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