Algebra II

Michael's parents think he is the smartest baby ever born. They decide to place $18,000 into a college fund account for him when he is born. They are receiving a 4% interest compounded quarterly. At the end of 18 years, how much money will Michael have in his college account?

  1. 👍 0
  2. 👎 0
  3. 👁 38
  1. amount = 18000(1 + .04/4)^(4*18)
    = 18000(1.01)^72
    = ...

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    Mrs soko is expecting a baby. Assuming that babies are equally like at any time of the day or night. What is the probability that the baby... a) will be born at the weekend? b) will be born between 8a.m. and 5p.m. on a weekday? c)

    asked by Christopher on January 3, 2016
  2. math

    The three stooges are a real pain. When you ask one of them a question, they all answer. Futhermore, one of them always lies, and the other two answer truthfully. I asked them who is the smartest. They replied: Curly: I am not the

    asked by Steph on November 4, 2011
  3. math

    35 yrs ago babies are born here hospital celebrated the births of the last baby of feb 20th and the 1st baby of feb 21st w/gifts. 5 mothers including mrs keating were in labor as of midnight find the full name of each newborn 1 of

    asked by latisha on February 21, 2008
  4. Health (Ms. Sue)

    1. Classify the following as risks to teen mothers, to teen fathers, or to teen parents. a. interrupted education --- teen parents b. limited job options ---- teen parents c. physical stress to bones --- teen mothers d. lower

    asked by Anonymous on December 16, 2013
  5. statistics

    Your best friend is 5 months pregnant and wants you to be there when the baby is born. Since the baby was conceived on Labor Day, the delivery might coincide with your annual trip to cabo. the doctor tells you that the gestation

    asked by lauren on February 17, 2008
  6. French

    Does anyone know a list of baby animals in French, or know specifically what these are? ~baby bunny ~baby "Sanglier" ~baby "vache" ~baby turkey ~baby "Cane" ~baby cerf ~baby "jars" ~baby "jument" Merci for your help

    asked by Noelle on December 22, 2008
  7. MATH

    3 STOOGES WERE ASKED WHO WAS THE SMARTEST, TWO ARE TRUTHFUL AND ONE IS A LIAR. LARRY SAID CURLY IS THE SMARTEST, MOE SAID LARRY IS THE SMARTEST AND CURLY SAID IS NOT HIM. WHO IS THE SMARTEST AND WHO IS THE LIAR?

    asked by dorothy on January 22, 2014
  8. Statistics

    A study shows that the probability of a baby being born with gene x is 0.6. The probability of a baby being born with gene y is 0.7. (a)What is the probability of being born with both genes assuming that the probabilities are

    asked by waqas on August 17, 2011
  9. Math

    The U.S life expectancy of a baby born in 1960 was 69.8 years. For a birth year of 2010, the U.S life expectant was 78.5 years. Let Y be the US life expectancy for a baby born in the year x, where x=0 represents the year 1960.

    asked by Anonymous on February 21, 2016
  10. communications

    Baby crib bumpers have been used throughout generations, because parents like how cribs look, but many argue that they are dangerous for newborn babies to have on their cribs; however, there are other options to parents that feel

    asked by Edgar on February 28, 2016

More Similar Questions