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3 years ago

7

A company will need $45,000 in eight years for a new addition. To meet the school, the company deposit money in an account today

that pays 5% annual interest compounded quarterly. Find the amount that should be invested to total 45,000 in eight years.

1 answer:

Lena [83]3 years ago

3 0

Answer:

$28,125

Step-by-step explanation:

28,125 x 0.05 = 1406.25 x 4 = 5625 x 8 = 45000

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