document.write( "Question 1036145: Amanda would like to have at least $125,000saved for her daughter education. If she invests $85,000 in an education account paying 10.15% interest compounded quarterly, will she reach her goal in 18 years? \n" ); document.write( "

Algebra.Com's Answer #650760 by josmiceli(19441) $\"\"$ $\"About$

You can put this solution on YOUR website!
The formula is: $\"+A+=+P%2A%28+1+%2B+r%2Fn+%29%5E%28n%2At%29+\"$
\n" ); document.write( " $\"+P+=+85000+\"$
\n" ); document.write( " $\"+r+=+.1015+\"$
\n" ); document.write( " $\"+n+=+4+\"$
\n" ); document.write( " $\"+t+=+18+\"$
\n" ); document.write( "-------------
\n" ); document.write( " $\"+A+=+85000%2A%28+1+%2B+.1015%2F4+%29%5E%28+4%2A18+%29+\"$
\n" ); document.write( " $\"+A+=+85000%2A%28+1+%2B+.025375+%29%5E72+\"$
\n" ); document.write( " $\"+A+=+85000%2A%28+1.025375+%29%5E72+\"$
\n" ); document.write( " $\"+A+=+85000%2A6.075138+\"$
\n" ); document.write( " $\"+A+=+516386.75+\"$
\n" ); document.write( "Yes, she will have $516,386.75 in 18 years
\n" ); document.write( "------------------
\n" ); document.write( "check:
\n" ); document.write( " $\"+A+=+85000%2A%28+1.025375+%29%5E72+\"$
\n" ); document.write( " $\"+516386.75+=+85000%2A%28+1.025375+%29%5E72+\"$
\n" ); document.write( " $\"+6.075138+=+1.025375%5E72+\"$
\n" ); document.write( " $\"+6.075138+=+6.075138+\"$
\n" ); document.write( "OK \n" ); document.write( "

\n" );