# college algebra

posted by .

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 -

I don't see what the problem is
Just evaluate it
P = 25000(1.0177)^8
= 25000(1.150689622)
= 28767.24

• college algebra -

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 -

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

## Similar Questions

1. ### Probability

There are three investment plans for your consideration. Each plan calls for an investment of \$25,000 and the return will be one year later. Plan A will return \$27,500. Plan B will return \$27,000 or \$28,000 with probabilities of 0.4 …
2. ### Algebra

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 …
3. ### College Algebra

The principal is \$25,000. This is P. Research the annual interest rate for your investment. This is r. State the time in years for the investment (as in when the new grandchild will be attending college). This is t. State the number …
4. ### Algebra

The principal is \$25,000. This is P. Research the annual interest rate for your investment. This is r. State the time in years for the investment (as in when the new grandchild will be attending college). This is t. State the number …
5. ### algebra

grandma ploan to finance her grandchilds college education she has 50,000 to invest use a long range investment pln ,cd,saving bond etc. the plan is to earn compound interest.the principal is(p)50,000 interest rate is (r)3.60years …
6. ### Algebra

Consider the following apportionment problem for College Town. Suppose each council member is to represent approximately 2,500 citizens. Use the apportionment plan requested in the problem, assuming there must be 10 representatives. …
7. ### algebra

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 …
8. ### math

Assume you want to accumulate \$125,000 for a long-range goal in 40 years. You have two choices. Plan A is an account with annual compounding and an APR of 5%. Plan B is an account with continuous compounding and an APR of 4.5%. How …
9. ### College Algebra

Please help me ASAP!!!!!!!!!!!! I did the work on most of these problems but I am still confused please help. 19. Comparing Investments Russ McClelland, who is self-employed, wants to invest \$60,000 in a pension plan. One investment …
10. ### Math

A bank offers two interest account plans. Plan A gives you 6% interest compound annually. Plan B gives you 13% annual simple interest. You plan to invest \$2,000 for the next 4 years. Which account earns you the most interest (in dollars) …

More Similar Questions