The Franklins inherited $
4,000, which they want to invest for their
child's future college expenses. If they invest it at
8.45% with interest compounded monthly, determine the value of the account, in dollars, after
4 years. Use the formula below, where
A = value of the investment after
t years,
P = principal invested,
r = annual interest rate, and
n = number of times compounded per year.
$
(No Response)