twigurl23 twigurl23
  • 17-04-2017
  • Mathematics
contestada

How many dollars must you invest today to have $90,700 in 25 years? Assume that the money earns 6.75% compounded quarterly.

Respuesta :

MadisonRL
MadisonRL MadisonRL
  • 17-04-2017
Not sure but I think that's it... let me know

90,700=p(1+0.0675/4)^25x4

90,700=p(1.016875)^100

90,700=p(5.33036598)

p=17,015.7172
Answer Link

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