Inez wants to have $15,750 in 3 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. O $13,860.00 O $13,971.78 O $13,977.33 O $14,001.69

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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Inez wants to have $15,750 in 3 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.
O $13,860.00
O $13,971.78
O $13,977.33
O $14,001.69
Transcribed Image Text:Inez wants to have $15,750 in 3 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. O $13,860.00 O $13,971.78 O $13,977.33 O $14,001.69
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