Asked by Kimberly

A company will need $35000 in 6 years for a new addition. To meet this goal the company deposits money in an account today that pays 6% annual interest compounded quarterly. Find the amount that should be invested to total $35000 in 6 years. The company should invest
Answered by Reiny
x(1.015)^24 = 35000
x = 24484.04
Answered by Nicki
PRT Formula
35,000(.06)(6years) = 1260
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