SOLUTION: When Jose was born, his grandmother deposited $8000 into an account paying 6% interest,
compounded quarterly. How much money will be available to use for college tuition 18 years
Algebra.Com
Question 1127205: When Jose was born, his grandmother deposited $8000 into an account paying 6% interest,
compounded quarterly. How much money will be available to use for college tuition 18 years
later?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
8,000(1+(0.06/4))^4*18 =
8,000(1.015)^72 =
8,000*2.921 = 23,368
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