Money Tree






Money Tree


Suppose you were born on January first and, on that day, $1000 was invested for you in an account that would be compounded quarterly on the first day of April, July, October, and January each year. Assume the average rate of growth for the account is 12%. How much money would be in the account if it was left to grow until the first of February after your 21st birthday? Would it matter if the compounding occurred on the last day of the months listed?

Correct Solutions:


  1. Teddy Schaffer. The Westminster Schools, Atlanta, GA
  2. Matt Lavin. Apex HS, Apex, NC
  3. Alex Lorbert. Yeshivah of Flatbush HS, Brooklyn, NY
  4. Tetsuya Matsuguchi. Centennial HS, Boise, ID
  5. Daniel Benjamin. Lake Mary HS, Lake Mary, FL
  6. Michael Guinn. Forest HS, Ocala, FL
  7. John Kuendig. Forest HS, Ocala, FL
  8. Jack Lai. Los Altos HS, Hacienda Hts, CA
  9. Brian Yang. Los Altos HS, Hacienda Hts, CA
  10. Arthur Chang. Los Altos HS, Hacienda Hts, CA
  11. Frank Kuo. Los Altos HS, Hacienda Hts, CA
  12. Angel Lin. Whittier Christian High School, Whittier, CA
  13. Becky Cheng. Los Altos HS, Hacienda Hts, CA
  14. Richard Cheng. Los Altos HS, Hacienda Hts, CA
  15. Scott Allen. Center for Arts & Sciences, Saginaw, MI
  16. Lilly Tenebruso. Monona Grove HS, Monona, WI
  17. Roi A. Altalaguire. University of St. La Salle, Philippines
  18. Fitz Johannes. Douglas HS, Winston, OR
  19. Dan Gross. Brown Deer HS, Brown Deer, WI
  20. Channing Slate. North Hopkins HS, Madisonville, KY
  21. Bett Walker. Jackson Prep, Jackson, MS
  22. Eric Ng. Lehman HS, Bronx, NY
  23. Kristen Butler. Forest HS, Ocala, FL
  24. Mohammed Saadullah Habib. Oviedo HS, Oviedo, FL
  25. Mandy Major. North Hopkins HS, Madisonville, KY
  26. Justin Whitely. Cascade Christian Academy, Wenatchee, WA
  27. Tom Sauvageau. Eastmont HS, Wenatchee, WA
  28. Matt Little. Douglas HS, Winston, OR
  29. Drew Clary. North Hopkins HS, Madisonville, KY
  30. Rosie Hanek. Douglas HS, Winston, OR
  31. Chris Cunningham. Center for Arts & Sciences, Saginaw, MI
  32. Amber-Dawn Ingwerson. Douglas HS, Winston, OR
  33. Tim Borgmann. Sauk Centre HS, Sauk Centre, MN