A newborn child receives a $4,000 gift toward a college education from her grandparents. How much will the $4,000 be worth in 19 years if it is invested at 4.8% compounded quarterly? It will be worth $. (Round to the nearest cent.)

A newborn child receives a $4,000 gift toward a college education from her grandparents. How much will the $4,000 be worth in 19 years if it is invested at 4.8% compounded quarterly? It will be worth $. (Round to the nearest cent.)

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 10E

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A newborn child receives a $4,000 gift toward a college education from her grandparents. How much will the $4,000
be worth in 19 years if it is invested at 4.8% compounded quarterly?
It will be worth $
(Round to the nearest cent.)

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