How much money should be invested in an account that earns 9% interest, compounded quarterly, in order to have $5,000 in 5 years?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
ChapterCSR: Contents Of Student Resources
Section: Chapter Questions
Problem 7.36EP
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How much money should be invested in an account that earns 9% interest, compounded quarterly, in order to have $5,000 in 5 years?  Round to the nearest cent.

   

$3,193.50

   

$3,204.08

   

$3,249.66

   

$3,448.28

   

$7,802.55

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