Math

1.The principal is $50,000. This is P.
2.Research the annual interest rate for your investment. This is r.
3.State the time in years for the investment (as in when the new grandchild will be attending college). This is t.
4.State the number of compounding periods per year. This is n.
5.Model the future value of Grandma’s investment as an exponential function, with time as the independent variable: F(t) = P(1 + r/n) nt
6.State the future value of Grandma’s investment.
7.Use the internet or library resources to find the average cost of a college education today; will grandma’s investment be able to cover the cost in today’s dollars; what about in the future?
8.Summarize your findings in writing using proper style and grammar

asked by ruby

Respond to this Question

First Name

Your Answer

Similar Questions

  1. 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
  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
  3. 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
  4. compound interest

    How do I solve these problems? Complete the table for a savings account in which interest is compounded continuously. 1. Initial Investment: $1000 Annual % Rate: 3.5% Time to Double: ? Amount After 10 Years: ? 2. Initial
  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

    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
  7. college 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
  8. financial - simple interest

    rate principal time S interest investment A rA $8000 4yrs SI A investment B rB $7000 5yrs SI B It is known that rA : rB = 2 : 3 and that investment B earned $2000 more interest than investment A. Find the values of rA, rB, SI A
  9. Math.

    For question 1-4 for the interest. All rates are annual interest rates. 1) principal, $400 rate, 5% time, 1 year. a. $10 b. $20 c. $40 d. $200 2) principal, $1,000 rate, 8.5% time, 3 years a. $255 b. $170 c. $22.5 d. $17 3)
  10. financial management

    a) An investment gives you $10,000 from years 1 through 4 and 40,000 in year 5. If the interest rate is 7.5%, what is the present worth of this investment? (2 points) b)You need $150,000 to buy a new car in 5 years’ time. How

More Similar Questions