Ask a New Question

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?

1 answer

P(1 + .07/4)^28 = 30000
solve for P

Ask a New Question or answer this question.

Similar Questions

A company will need 55,000 for a new addition. To meet this goal the company deposits money in an account today that pays 5%
1. 1 answer
A company will need 50,000 in 6 years to add a new addition. To meet this goal a company depsoits money in account that pays 7%
1. 0 answers
a company needs $55,000 in 7 years for a new addition. To meet this goal, the company needs to deposit money in an acct today
1. 1 answer
A company will need 65,000 in 6 years to add an addition. to meet this goal the company deposits money in an account today that
1. 3 answers

more similar questions