document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1056049>Question 1056049</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Becky would like to have $250,000 saved for her daughters college education. If she invests $85,000 in an education account paying 7.25% interest compound quarterly, will she reach her goal in 18 years ? Thank you. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #671226 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=671226\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=Po{1+(r/n)^nt}; r is rate, n the number of compoundings per year, and t the number of years.<BR>\n" );
document.write( "P=85,000{1+(r/n}^72, the raise to the 72nd power being the number of compoundings.<BR>\n" );
document.write( "=85000{1+(0.0725/4))^72, and round at the end.<BR>\n" );
document.write( "85000*3.645=$309,812.01<BR>\n" );
document.write( "Yes, she will. </SPAN>\n" );
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