On the day of a child's birth, a deposit of $25,000 is made in a trust fund that pays 8.5% interest. | MathCelebrity Forum

On the day of a child's birth, a deposit of $25,000 is made in a trust fund that pays 8.5% interest.

math_celebrity

math_celebrity

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On the day of a child's birth, a deposit of $25,000 is made in a trust fund that pays 8.5% interest. Determine that balance in this account on the child's 25th birthday.

Using our compound interest calculator, we get:
192,169.06
 
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