Calculate the difference in investment funds

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Question - Two Grandfathers want to invest funds for their newborn grandson. Fund The money will be used for tuition fees where each grandchild will get amount of money in the future. Grandpa A agrees that later his grandson will be given $10,000 at a time 18 years old and $10,000 when 19 years old. Whereas Grandpa B agreed that his Grandson given $20,000 at the age of 19. If the applicable interest is 6% compound interest per year, calculate the difference in investment funds that must be paid by Grandpa A and B when the grandson is born!

Reference no: EM133046408

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