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A newborn child receives a $5,000 gift toward a college education from her grandparents. How much will the $5,000 be worth in 18 years
A newborn child receives a $5,000 gift toward a college education from her grandparents. How much will the $5,000 be worth in 18 years if it is invested at 45% compounded quarterly? Enter the following TVM values to be used for this problem Round decimals to 5 places if needed Hint: Make sure P/Y C/Y = 1 n= 1% PV- PMT= FV= 00000 The $5,000 will be worth $in 18 years (Do not round until the final answer. Then round to the nearest cent as oneded)
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