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Svetradugi [14.3K]

3 years ago

14

Mathew knows the he will need to buy a new car in 4 years. The car will cost 15,00 by the. How much should he invest now at 10%,

compound quarterly so that he will have enough to buy a new car

1 answer:

aleksley [76]3 years ago

4 0

Answer:

$1010.44

Step-by-step explanation:

1500 = X(1 + 0.1/4)¹⁶

X = 1500/(1.025¹⁶)

X = $1010.4374

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