Posted by **shiedah** on Wednesday, February 1, 2012 at 10:06am.

A grandmother is looking for a plan to finance her new grandchild’s college education. She has $25,000 to invest. Search the internet and locate a long-range investment plan, CD, Savings Bond, etc, for the grandmother. The plan is to earn compound interest.

Calculate the future value of the investment. You must use the advertised interest rate, the number of compounding periods per year, and the time the funds will be invested. If you are not given the number of compounding periods a year, make it up.

p=25,000(1+0.0177/1)1*8

p=25000

rate=0.0177

n=1

time=8 years

i need step by step help

- college algebra -
**Reiny**, Wednesday, February 1, 2012 at 11:20am
I don't see what the problem is

Just evaluate it

P = 25000(1.0177)^8

= 25000(1.150689622)

= 28767.24

- college algebra -
**Anonymous**, Monday, March 5, 2012 at 3:11pm
model the future value of grandmas investment as an exponential function,with time as the independent varible:f(t)=p(1+r/n)nt

- college algebra -
**ruby**, Wednesday, May 23, 2012 at 12:24pm
A grandmother is looking for a plan to finance her new grandchild’s college education. She has $50,000 to invest. Search the internet and locate a long-range investment plan, CD, Savings Bond, etc, for the grandmother. The plan is to earn compound interest

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