parents of a newborn decide to start saving early for her college education. On the day of her birth, they invest $3000 at 6% compounded annually. Find the amount of the investment at the end of each of the first four years and find a formula for the amount

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.2: The Natural Exponential Function
Problem 2E
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 The parents of a newborn decide to start saving early for her college education. On the day of her birth, they invest $3000 at 6% compounded annually. Find the amount of the investment at the end of each of the first four years and find a formula for the amount at the end of the nth year. Find the amount at the end of the 18th year. 

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