document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1083711>Question 1083711</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Becky would like to have at least $250,000 saved for her daughters college education. If she invests $80,000 in an education account paying 7.15% interest compounded quarterly, will she reach her goal in 18 years?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #697750 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=697750\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=\"black\" face=\"times\" size=\"4\">Plug P = 80000, r = 0.0715, n = 4, and t = 18 into the formula below\r<BR>\n" );
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document.write( "A = P*(1+r/n)^(n*t)<BR>\n" );
document.write( "A = 80000(1+(0.0715/4))^(4*18)<BR>\n" );
document.write( "A = 286,477.309093138<BR>\n" );
document.write( "A = 286,477.31\r<BR>\n" );
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document.write( "This value is larger than $250,000 so <font color=red>she will meet her goal</font>.</font> </SPAN>\n" );
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