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

## Answer this Question

## Related Questions

- Algebra - A grandmother is looking for a plan to finance her new grandchild’s ...
- algebra - A grandmother is looking for a plan to finance her new grandchild’s ...
- algebra - grandma ploan to finance her grandchilds college education she has 50,...
- College Algebra - The principal is $25,000. This is P. Research the annual ...
- Algebra - The principal is $25,000. This is P. Research the annual interest rate...
- Finance - Professor Anderson has a daughter who is 3 years old. In 15 years she ...
- Finance - Professor Anderson has a daughter who is 3 years old. In 15 years she ...
- Math - 1.The principal is $50,000. This is P. 2.Research the annual interest ...
- Finance - 5. John and Daphne are saving for their daughter Ellen's college ...
- finance - You would like to contribute $50,000 towards your grandchild’s college...