need percentage help

Algebra
Tutor: None Selected Time limit: 1 Day

becky would like to have at least $250,00 saved for her daughter's college education. if she invests $80,000 in an education account paying 7.15% interest compounded quarterly, will she reach her goal in 18 years?

Aug 30th, 2015

Thank you for the opportunity to help you with your question!

A = P (1+r/n)^(nt)

where P = 80000 , r = 7.15%  or 0.0715   n = 4   t = 18

substituting values we get,

80000*(1+0.0715/4)^(4*18) = 80000*(1.017875)^(72)=80000*(3.5809) = 286477.31

hence Interest Earned CI = A- P = 286477.31-80000   = 206477.31   (Earned interest)

since interested earned is greater than required amount $ 25000, hence Answer is Yes HE will be able to save money for daughters education

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Dear Student : I would be glad to complete your online assignments/classes of math, physics, mechanics, statistics, calculus etc. Inbox me if you are interested !!! I always deliver quality work in time. Check my completed online works at https:
Aug 30th, 2015

THANK YOU SO MUCH FOR YOUR HELP I HOPE YO CAN HELP ME AGAIN

Aug 30th, 2015

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Aug 30th, 2015

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