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  3. your grandparents invested $1500 in a college fund

Your grandparents invested $1500 in a college fund paying 7.2% interest when you were starting...

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Basic Math

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Your grandparents invested $1500 in a college fund paying 7.2% interest when you were starting first grade.a) What is the equation that you would write to represent this situation? (annual interest, not compounded continuously)b) If you don't pull any money out of the account, how much money will you have when you enter college? Show the equation you used to answer this question.c) If you don't pull any money out of the account, how long will it take to reach $5000? Show your algebraic work.

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