Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Homework Help/Study Tips Expert

A grandmother is looking for a plan to finance her new grandchild's college education. She consists of $45,000 to invest. Search the internet and place a long-range investment plan, CD, Savings Bond and so on for the grandmother. The plan is to earn compound interest.

Compute the future value of the investment. You should use the advertised interest rate, the number of compounding periods per year and the time the funds will be invested. If you are not given the number of compounding periods a year, utilize monthly compounding. 

1) The principal is $45,000. This is P.

2) Research the annual interest rate for your investment. This is r.

3) State the time in years for the investment (as in if the new grandchild will be attending college). This is t.

4) Describe the number of compounding periods per year. This is n.

5) Model the future value of Grandma's investment as the exponential function, with time as the independent variable: F(t) = P(1 + r/n) nt

6) Show all the intermediate computations and state the future value of Grandma's investment.

7) Use the Internet or library resources to find out the average cost of a college education today; will grandma's investment be capable to cover the cost in today's dollars; what about in the future?

8) What other costs, alongside tuition, might be incurred by the college-bound grandchild?

9) How much would grandmother have to invest, and at what compound interest rate and terms would grandmother have to invest this money to completely cover the grandchild's college experience? Show how you determined such values.

10) Sum up your findings in writing by using proper style and grammar. 

Homework Help/Study Tips, Others

  • Category:- Homework Help/Study Tips
  • Reference No.:- M916481

Have any Question? 


Related Questions in Homework Help/Study Tips

Discussion question review the following research

Discussion Question Review the following research questions. 1. Is the use of soap and water or alcohol-based rubs more effective in preventing nosocomial infections? 2. How effective are anti-depressive medications on a ...

Identify two different examples one positive and one

Identify two different examples (one positive and one negative) of social media that has impacted (or interacted with) global criminal justice systems. Create a 12- to 15- slide presentation in which you address the foll ...

Homeland security assignmentyou are the city manager of wet

Homeland Security Assignment You are the city manager of Wet Town, Mississippi. Your community considers its greatest threat to be hurricanes. It is January, and you have only 6 months to help the underresourced emergenc ...

Write a 260- to 350-word section for the newsletter you

Write a 260- to 350-word section for the newsletter you started Urinary System - Identify the structure and function of the urinary system. Identify the major structures found in the system. Define the function of this s ...

Securing your web serverthe world wide web is continuously

Securing Your Web Server The World Wide Web is continuously expanding. This creates new opportunities, practically for the entire society. As a result, more and more companies, government agencies and individuals have an ...

Content reviewdirectionsbullrespond to each item each

Content Review Directions: • Respond to each item. Each response should be concise and between 2-3 paragraphs in length. • Use MS Word to write your responses, and submit your answers to all three questions in one Word d ...

Ethical case study analysis paperread the case study

Ethical Case Study Analysis Paper Read the case study provided and identify all three of the ethical dilemmas presented. Describe the nature and all dimensions of the three ethical issues. Identify the ethical code numbe ...

Write a 1400- to 2100-word paper describing the group

Write a 1,400- to 2,100-word paper describing the group decision-making process. Identify one successful and one unsuccessful experience with group decision making. Discuss the factors that affected the group's overall e ...

Assignment - skills dispositions and data collectionyou

Assignment - Skills, Dispositions and Data Collection You will continue your pilot research study by conducting an interview at the early childhood program that you contacted. Gather tools to be able to take notes during ...

Artwork reviewanswer all three of the following questions

Artwork Review Answer all three of the following questions per work of art shown below. You should reference your book to aid you in answering these questions. Answers should be in essay format, be a minimum of three-fiv ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro