toward a college education from her grandparents. How much will the $9,000 be worth in 19 years if it is invested at 6.3% compounded quarterly? It will be worth $enter your response here. (Round to the nearest cent.)

toward a college education from her grandparents. How much will the $9,000 be worth in 19 years if it is invested at 6.3% compounded quarterly? It will be worth $enter your response here. (Round to the nearest cent.)

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 3PT: Drew wants to save 2,500 to go to the nextWorld Cup. To the nearest dollar, how much willhe need to...

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Question

A newborn child receives a $9,000 gift toward a college education from her grandparents. How much will the $9,000 be worth in 19 years if it is invested at 6.3% compounded quarterly?

It will be worth

$enter your response here.

(Round to the nearest cent.)

Expert Solution