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7 On the day their son Peter was born Madeline and Ben invested 1500 for...

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Basic Math

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7 On the day their son Peter was born Madeline and Ben invested 1500 for his education at 6 7 interest compounded quarterly Today is Peter s birthday He is 19 years old and wants to go to college a Circle the four important pieces of information in the question b Use a TMV Solver to determine the value of the investment today Fill in the box on the right c How much interest did the investment earn d How much interest would the investment have earned in a savings account that paid 0 7 interest per year compounded yearly N 1 PV PMT FV P Y C Y PMT END BEG

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