The mother of Bob invested in an educational package offered by a company that guarantees $300,000 educational fund during its maturity. The company invests these funds in portfolios that earn higher than the 12% effective interest rate that the company used to compute for future benefits that they guarantee to their investor.
a. If the investment was made during Bob's 5th birthday and will mature also on his 18th birthday, how much was the investment?
b. If the investment was made by Bob's mother during the day when he was born and would mature on his 18th birthday, how much was the investment?
c. If the investment was made by Bob's mother 2 days before he was born and will still mature on her 18th birthday, how much was the investment?