How much money should be invested in an account that earns 8% interest compounded quarterly to yield $10,000 in 4 years? (Round
your answer to the nearest cent.)
1 answer:
Answer:
757,576cents
Step-by-step explanation:
Given
Amount = $10000
Time = 4years
Rate = 8%
n = 1/4 year (compounded quarterly
Using the formula to get the principal
A = P(1+r/n)^nt
10000 = P(1+0.08/0.25)^4(1/4)
10000 = P(1+0.32)
10000= 1.32P
P = 10000/1.32
P = 7575.76
Hence he suppose to invest $7575.76 which is equivalent to 7575.76×100 cents i.e 757,576cents
You might be interested in
Answer: The last one the left is alternate ex and the one on the right is alternate en
Step-by-step explanation: I hope this helps ;)
Answer:
0.33333
Step-by-step explanation:
3:40 because 4:00 minus 20 is 3:40
Answer:
<h2>(A.B.)-32, 64</h2>
Step-by-step explanation:
Each next term is created by multiplying the previous term by (-2).
X=25/11 and y=17/11 if that’s what your asking for
