Jaden wants $25,000 in 5 years.  He can invest in a fund that earns 6% and compounds quarterly.  How much does he have to invest initially? A) $23,206.51    B) $18,681.45       C) $912.64       D) $18,561.76

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
Problem 8P
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Jaden wants $25,000 in 5 years.  He can invest in a fund that earns 6% and compounds quarterly.  How much does he have to invest initially?

A) $23,206.51

   B) $18,681.45      

C) $912.64    

  D) $18,561.76

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