Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $130,000 after 7 years invested in an account with 5% interest compounded quarterly.
Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $130,000 after 7 years invested in an account with 5% interest compounded quarterly.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 49E
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Question
Use the present value formula to determine the amount to be invested now, or the present value needed.
The desired accumulated amount is
$130,000
after
7
years invested in an account with
5%
interest compounded
quarterly.
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