How much will there be in the jar when jake is ready to go to college?

Question

Jake's father says starting now , he will put $10 in a jar each week, the money to go to jake's college education. Jake is presently 2 years old and it is some 16 years until he will enroll in college. Question up above?

Answer 1

$10.00 x 4 weeks = $40.00 each month ---- $40.00 x 12 = $480.00 Each Year ---- $480.00 x 14 (years until Jake is 16)  = $6720.00

$8640.00 by the time he is 18 years old !!!! :-)  

Answer 2

1 year = 52.17 weeks (52.177457 weeks)

total # of weeks in 16 years = 16 X 52.17 = 834.72

Money contributed per week = $10

Total money contributed in 834.72 weeks = 834.72 X 10 = $8347.2

Jar will have $8347.2 when Jake is ready to go to college.

Answer 3

$8320.00

$10 a week  X  52 weeks in a year   X  16 years = $8320