In 1992, the four-year cost of tuition at UMass was $19,000. Tuition is expected to rise 79% Qver the following decade. (b) How much should parents of a child born in 1992 invest at the time of the child's birth at 8% annual interest compounded continuously in order to have sufficient tuition for their child at age 187 (c) A family is able to invest $5, 000 in 1992 at 9% annual interest, compounded monthly. How long will it take for this amount to grow suficiendly to cover 4 years' tuition? (Note: the cost of tuition is not fixed, it is a function of ime.)
Permutations and Combinations
If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.
I need the answer for part (B) & (C) please
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