A company will need 25,000 in 7 years for a new additon. To meet this goal, the company deposits money into an account today tha
t 3% annual interest compound quarterly. Find the amount that should be invested to total 25,000 in 7 years.
1 answer:
You can use the simple interest formula
We need P, which is the primary (or principal) investment, and we know that:
rate = 3% (0.03)
time = 7
i = $25000
So, just plug in and solve:
The company needs to invest $5250 today, to make $25000 in 7 years.
You might be interested in
2x^3
2 can fit into 10 and 46
and you can take 3 out of 3 and 5
Answer: 66
Step-by-step explanation:see attachment.
If this helps you please rate brainest
Answer: -5
Step-by-step explanation:
Sorry about all the arrows, but hope this helps! Reels=$21 and rods=$80. All my work is shown.
