Asked by mleya:)

A company will need $30,000 in 7 years for a new addition. To meet this goal the company deposits money in an account that pays 7% anual intrest compound quarterly. Find the amount that should be invested to reach $30,000 in 7 years?
Answered by Reiny
P(1 + .07/4)^28 = 30000
solve for P
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