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

## Answer this Question

## Related Questions

- math - Your invest $3,000 annually in a mutual fund that earns 10 percent ...
- math - Yumi's grandparents presented her with a gift of $11,000 when she was 8 ...
- Math - When Curtis was born, his parents began depositing $1000 at the end of ...
- math - The management of Gibraltar Brokerage Services anticipates a capital ...
- math - When Melissa was born, her parents put $8,000 into a college fund account...
- Business Algebra - Invest $23,000 in a savings account at 4.25% interest ...
- math - Jim wants to deposit money in an account to save for a new stereo system ...
- mah - When Melissa was born, her parents put $8,000 into a college fund account ...
- Math - Please help check my answers to make sure they are correct. I used the "...
- MATH - Please help check my answers to make sure they are correct. I used the "...

More Related Questions