Asked by Kiki

The parents of twin boys started a college fund when the boys were 5 years old. They decided to invest $6,000 into an account that compounds quarterly at a rate of 8.6% annually.

If the parents do not invest any additional money into this fund, how much will each of the boys have toward his education when they reach 18 years old? Use the formula: , where A is the amount at the end of a specific length of time, P is the initial amount of the investment, r is the rate as a decimal and t is time. Round your answer to the nearest cent.

Answers

Answered by Anonymous
90
Answered by Anonymous
21
Answered by Kelly
900
Answered by katie
9068
Answered by Bro
$9068.11
Answered by Anonymous
27753.26
Answered by Anonymous
9068.11
There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions