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Please Help! This is one problem btw MAT 141 -...

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Accounting

Please Help! This is one problem btw
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MAT 141 - Written Finance Assignment PROBLEM 4: For their newborn child, parents deposit $10,000.00 in a college fund account that pays 8% interest, compounded quarterly. How much will be in the account on the child's 17th birthday? a. What type of problem is this? (i.e. Simple Interest, Compound Interest, Annuity, etc.) (1 pt) b. What are you trying to find? (1 pt) c. What formula should be used? (1 pt) d. What variable are you solving for? (1 pt) e. Solve the problem and show all of your work: (1 pt) f. Interpret your work and write the answer using a complete sentence: (1 pt)

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