How much money should David invest today into a fund that earns interest at 3.50% compounded quarterly, if he wants to receive $7,500 at the end of every 6 months for the next 6 years? $73,020.00 (X) Round to the nearest cent

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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How much money should David
invest today into a fund that earns
interest at 3.50% compounded
quarterly, if he wants to receive
$7,500 at the end of every 6
months for the next 6 years?
$73,020.00 X
Round to the nearest cent
Transcribed Image Text:How much money should David invest today into a fund that earns interest at 3.50% compounded quarterly, if he wants to receive $7,500 at the end of every 6 months for the next 6 years? $73,020.00 X Round to the nearest cent
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