Answer:
$104,710.29
Step-by-step explanation:
The amount is given by ...
A = Pe^(rt)
where P is the principal invested at annual rate r for t years. Filling in the numbers, we get ...
A = 30000e^(.05·25) = 30000e^1.25 ≈ 104,710.29
The balance will be about $104,710.29 on the child's 25th birthday.
