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Justin invests $ 5,000 dollars, with the aim of saving in a fund whose purpose is to pay for the university education of his son
Justin invests $ 5,000 dollars, with the aim of saving in a fund whose purpose is to pay for the university education of his son Charly, just born. The investment pays a 12% annual yield, compounded quarterly.
a. Build the mathematical model, indicate its units, and sketch the graph that represents the total investment balance as a function of time.
b. How was the investment growing 10 years after the investment?
c. At what age will Charly be able to have a savings of $ 40,000 dollars to pay for his studies
university?
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