a. When Kyle was born, his grandparents invested $5,000 in a college fund that paid 4%
Chapter 7, Problem 18(choose chapter or problem)
a. When Kyle was born, his grandparents invested $5,000 in a college fund that paid 4% per year, compounded yearly. What was the value of this investment when Kyle was ready for college at age 18? (Note that r 5 0.04.) b. If Kyles grandparents had invested the $5,000 in a fund that paid 4% compounded continuously, what would have been the value of the fund after 18 years?
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer