Posted by **Kiki** on Sunday, February 16, 2014 at 5:57pm.

The parents of twin boys started a college fund when the boys were 5 years old. They decided to invest $6,000 into an account that compounds quarterly at a rate of 8.6% annually.

If the parents do not invest any additional money into this fund, how much will each of the boys have toward his education when they reach 18 years old? Use the formula: , where A is the amount at the end of a specific length of time, P is the initial amount of the investment, r is the rate as a decimal and t is time. Round your answer to the nearest cent.

- Math -
**Anonymous**, Sunday, March 2, 2014 at 12:32pm
90

- Math -
**Anonymous**, Sunday, January 18, 2015 at 11:32pm
21

- Math -
**Kelly**, Thursday, April 23, 2015 at 7:53am
900

- Math -
**katie**, Wednesday, November 18, 2015 at 8:07pm
9068

- Math -
**Bro**, Monday, January 4, 2016 at 7:40pm
$9068.11

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