Question: Need help solving this problem...I seem to be confused with these steps... statement defining any unknown quantities in the problem in terms of variables. equation

Need help solving this problem...I seem to be confused with these steps...

statement defining any unknown quantities in the problem in terms of variables.

equation involving the variable(s) corresponding to the information given in the problem.

solution to the equation, showing all work.

answer to the question asked, including appropriate units.

Bill would like to have at least $250,000 saved for his son's college education.If he invests $50,000 in an education account paying 6.15% interest compounded quarterly, will he reach his goal in 18 years?Show all work to justify your answer and include appropriate units.

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