SOLUTION: I am stuck on this question, any help would be greatly appreciated. "A newborn child receives 20000 gift toward a college education from her grandparents. How much will the 20000 b
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Question 491862: I am stuck on this question, any help would be greatly appreciated. "A newborn child receives 20000 gift toward a college education from her grandparents. How much will the 20000 be worth in 17 years if it is invested at 7% compounded quarterly?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
17 years = 68 quarters
7% per year = 1.75% per quarter
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FV = 20000*(1 + 0.0175)^68
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