Following the birth of triplets, the grandparents deposit $30,000 in a college trust fund that earns

Discussion in 'Calculator Requests' started by math_celebrity, Apr 15, 2017.

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  1. math_celebrity

    math_celebrity Administrator Staff Member

    Following the birth of triplets, the grandparents deposit $30,000 in a college trust fund that earns 4.5% interest, compounded quarterly. How much will be in the account after 18 years?

    18 years = 18 * 4 = 72 quarters.

    Using our compound interest balance calculator, we have:
    $67,132.95
     
    math_celebrity, Apr 15, 2017
    #1

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