Question 1036145
The formula is:{{{ A = P*( 1 + r/n )^(n*t) }}}
{{{ P = 85000 }}}
{{{ r = .1015 }}}
{{{ n = 4 }}}
{{{ t = 18 }}}
-------------
{{{ A = 85000*( 1 + .1015/4 )^( 4*18 ) }}}
{{{ A = 85000*( 1 + .025375 )^72 }}}
{{{ A = 85000*( 1.025375 )^72 }}}
{{{ A = 85000*6.075138 }}}
{{{ A = 516386.75 }}}
Yes, she will have $516,386.75 in 18 years
------------------
check:
{{{ A = 85000*( 1.025375 )^72 }}}
{{{ 516386.75 = 85000*( 1.025375 )^72 }}}
{{{ 6.075138 = 1.025375^72 }}}
{{{ 6.075138 = 6.075138 }}}
OK