SOLUTION: On the day she was born, a girl's parents invested $2000 in a bank to save for her college education. At 6 1/4% interest compounded annually, how much will have accumulated by her
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Question 171519: On the day she was born, a girl's parents invested $2000 in a bank to save for her college education. At 6 1/4% interest compounded annually, how much will have accumulated by her eighteenth birthday?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
On the day she was born, a girl's parents invested $2000 in a bank to save for her college education. At 6 1/4% interest compounded annually, how much will have accumulated by her eighteenth birthday?
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Future Value = $2,000*(1.0625)^18
FV = $30,067.91
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