On the day of a child's birth, a deposit of $25,000 is made in a trust fund that pays 8.5% interest.

Discussion in 'Calculator Requests' started by math_celebrity, Mar 25, 2021.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    On the day of a child's birth, a deposit of $25,000 is made in a trust fund that pays 8.5% interest. Determine that balance in this account on the child's 25th birthday.

    Using our compound interest calculator, we get:
    192,169.06
     

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