Question

Stuart estimates that he will need $25000 to set up a small business in 7years.How much must stuart invest at 12% interest compound quarterly to achieve goal?

Answer 1

PV = 25000(1.03)^-28
= $10,926.92

i = .12/4 = .03
n = 7(4) = 28

Answer 2

Thank you reiny:)

Answer 3

Stuart estimates that he will need $25000 to set up a small business in 7years.

Answer A=$10,926.92
Answer B=$14,073.08