Engineering Economy – Problem 2.5

A family that won a $100,000 prize on America’s Funniest Home Videos decided to put one-half of
the money in a college fund for their child who was responsible for the prize. If the fund earned
interest at 6% per year, how much was in the account 14 years after it was started?

Sample problems and notes are based on the following textbook: Engineering Economy 7th Edition

ISBN-13: 978-0073376301

ISBN-10: 0073376302

Edition: 7

Author: Leland Blank, Anthony Tarquin 

Published Date: 2011