document.write( "Question 593227: If my parents invested $5000 when I was born at an interest rate of 4% for 18 years would i have enough money to pay for 4 years of college that cost $169,208? If not, how old would I be when the balance in the account is enough to cover my college? I think I have to use A=P e ^rt but I have no idea how to figure this out. Please help me. \n" ); document.write( "
Algebra.Com's Answer #376243 by rfer(16322)![]() ![]() ![]() You can put this solution on YOUR website! You don't say the compoundind period, \n" ); document.write( "so I am using annual \n" ); document.write( "A=P(1+r)^t \n" ); document.write( "A=5000(1.04)^18 \n" ); document.write( "A=5000*2.02582 \n" ); document.write( "A=$10,129.10 \n" ); document.write( "You do the rest \n" ); document.write( " |