Question

Please Help Compound Interest
See Attachment

Answer 1

since the problem specifies "at birth" try starting with 0 not 1, I think the number of years should be 19, my answer is 6200.8211.

Answer 2

how did you get that?

Answer 3

I tried 18 for years and when I saw that i got your answer i reread the problem, again it does say at birth. take an infant at 1 year old, that means she's already lived four quarters, and her account has had that long to compile. beyond the age difference I used the same formula just t=19 instead of 18

Answer 4

I put 6200 in because it says round to the nearest cent and it still said incorrect...

Answer 5

6200.82 is in cents, 6200 are just dollars. You might also try 5842.31, which is your original answer but in cents instead of dollars.

Answer 6

okay

Answer 7

thank you @flyingace94