Asked by Anonymous
How much must be invested today at 8% compounded quarterly to have 3500 in 4 years?
Answers
Answered by
Reiny
let the amount be P
P(1.02)^16 = 3500
solve for P
( I got P = 2549.56 )
P(1.02)^16 = 3500
solve for P
( I got P = 2549.56 )
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