Find how much money needs to be deposited now into an account to obtain $3, 900 in 6 years if the interest rate is 8% per year compounded quarterly (4 time(s) per year). 69 Round your answer to the nearest cent.
Find how much money needs to be deposited now into an account to obtain $3, 900 in 6 years if the interest rate is 8% per year compounded quarterly (4 time(s) per year). 69 Round your answer to the nearest cent.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Find how much money needs to be deposited now into an account to obtain $3, 900 in 6 years if the
interest rate is 8% per year compounded quarterly (4 time(s) per year).
69
Round your answer to the nearest cent.
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