Asked by Maame

Rico can invest money at 10%/a compounded quarterly. He would like
$15 000 in 10 years. How much does he need to invest now?
Answered by Maame
PV = A( 1+i)^n
=15,000(1+0.025)^-40
=$5586.46
Answered by drwls
The balance gets multiplied bu 1.025 forty times.

X*(1.025)^40 = 15,000.
2.685063838X = 15,000.

X = $ 5586.46
Answered by Teri ma
You are wrong
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