Inez wants to have $13,500 in 5 years. Use the present value formula to calculate how much Inez should invest now at 4% interest, compounded quarterly in order to reach her goal. a. $10,800.00 b. $11,056.54 c. $11,063.85 d. $11,096.02
Inez wants to have $13,500 in 5 years. Use the present value formula to calculate how much Inez should invest now at 4% interest, compounded quarterly in order to reach her goal. a. $10,800.00 b. $11,056.54 c. $11,063.85 d. $11,096.02
Chapter16: Interest, Rent, And Profit
Section: Chapter Questions
Problem 1WNG
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Inez wants to have $13,500 in 5 years. Use the present value formula to calculate how much Inez should invest now at 4% interest, compounded quarterly in order to reach her goal.
a. $10,800.00
b. $11,056.54
c. $11,063.85
d. $11,096.02
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