What principal deposited 5 years ago will grow to $18,163.28 in 3 years and 8 months from now if money grows at 2.16% compounded quarterly? DO NOT ROUND INTERMEDIATE RESULTS. Report N accurate to at least 6 decimal places Report PV and FV as positive values to the nearest cent.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 8CE
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What principal deposited 5 years ago will grow to $18,163.28
in 3 years and 8 months from now if money grows at 2.16%
compounded quarterly?
DO NOT ROUND INTERMEDIATE RESULTS.
Report N accurate to at least 6 decimal places
Report PV and FV as positive values to the nearest cent.
Transcribed Image Text:What principal deposited 5 years ago will grow to $18,163.28 in 3 years and 8 months from now if money grows at 2.16% compounded quarterly? DO NOT ROUND INTERMEDIATE RESULTS. Report N accurate to at least 6 decimal places Report PV and FV as positive values to the nearest cent.
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