Need help with the problem in image Find the amount that should be set aside today to yield the desired future amount.Future amount InterestCompoundingperiodrate16%quarterlyInvestmenttime4 yearsClick the icon to view the present value of $1.00 table.needed$8,000The present value is $. (RounPresent Value of $1.00Periods12166(81012131415160.5%1% 1.5%2% 2.5% 3%4%5%6%8%10%12%0.99502 0.99010 0.98522 0.98039 0.97561 0.97087 0.96154 0.95238 0.94340 0.92593 0.90909 0.892860.99007 0.98030 0.97066 0.96117 0.95181 0.94260 0.92456 0.90703 0.89000 0.85734 0.82645 0.797190.98515 0.97059 0.95632 0.94232 0.92860 0.91514 0.88900 0.86384 0.83962 0.79383 0.75131 0.711780.98025 0.96098 0.94218 0.92385 0.90595 0.88849 0.85480 0.82270 0.79209 0.73503 0.68301 0.635520.97537 0.95147 0.92826 0.90573 0.88385 0.86261 0.82193 0.78353 0.74726 0.68058 0.62092 0.567430.97052 0.94205 0.91454 0.88797 0.86230 0.83748 0.79031 0.74622 0.70496 0.63017 0.56447 0.506630.96569 0.93272 0.90103 0.87056 0.84127 0.81309 0.75992 0.71068 0.66506 0.58349 0.51316 0.452350.96089 0.92348 0.88771 0.85349 0.82075 0.78941 0.73069 0.67684 0.62741 0.54027 0.46651 0.403880.95610 0.91434 0.87459 0.83676 0.80073 0.76642 0.70259 0.64461 0.59190 0.50025 0.42410 0.360610.95135 0.90529 0.86167 0.82035 0.78120 0.74409 0.67556 0.61391 0.55839 0.46319 0.38554 0.321970.94661 0.89632 0.84893 0.80426 0.76214 0.72242 0.64958 0.58468 0.52679 0.42888 0.30.35049 0.287480.94191 0.88745 0.83639 0.78849 0.74356 0.70138 0.62460 0.55684 0.49697 0.39711 0.31863 0.256680.93722 0.87866 0.82403 0.77303 0.72542 0.68095 0.60057 0.53032 0.46884 0.36770 0.28966 0.229170.93256 0.86996 0.81185 0.75788 0.70773 0.66112 0.57748 0.50507 0.44230 0.34046 0.26333 0.204620.92792 0.86135 0.79985 0.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.31524 0.23939 0.182700.92330 0.85282 0.78803 0.72845 0.67362 0.62317 0.53391 0.45811 0.39365 0.29189 0.21763 0.1631200530

The future amount needed is (FV) =Interest rate The compounding period is quarterly t=4 ( 4 per…

Find the amount that should be set aside today to yield the desired future amount. Future amount Interest Compounding period rate 16% quarterly needed $8,000 Investment time 4 years Click the icon to view the present value of $1.00 table. The present value is $. (Roun Present Value of $1.00 Periods 1 2 3 A 5 6 6 7 ( 。 8 a 9 10 10 77 11 12 13 14 15 16 4% 5% 6% 8% 2% 2.5% 3% 10% 12% 0.5% 1% 1.5% 0.99502 0.99010 0.98522 0.98039 0.97561 0.97087 0.96154 0.95238 0.94340 0.92593 0.90909 0.89286 0.99007 0.98030 0.97066 0.96117 0.95181 0.94260 0.92456 0.90703 0.89000 0.85734 0.82645 0.79719 0.98515 0.97059 0.95632 0.94232 0.92860 0.91514 0.88900 0.86384 0.83962 0.79383 0.75131 0.71178 0.98025 0.96098 0.94218 0.92385 0.90595 0.88849 0.85480 0.82270 0.79209 0.73503 0.68301 0.63552 0.97537 0.95147 0.92826 0.90573 0.88385 0.86261 0.82193 0.78353 0.74726 0.68058 0.62092 0.56743 0.70024 0.74622 0.70466 0 62017 0 56447 0 50652 0.97052 0.94205 0.91454 0.88797 0.91454 0.88797 0.86230 0.79031 0.74622 0.70496 0.63017 0.56447 0.50663 0.83748 0.96569 0.93272 0.90103 0.87056 0.84127 0.81309 0.75992 0.71068 0.66506 0.58349 0.51316 0.45235 0.96089 0.92348 0.88771 0.85349 0.82075 0.78941 0.73069 0.67684 0.62741 0.54027 0.46651 0.40388 0.95610 0.91434 0.87459 0.83676 0.80073 0.76642 0.70259 0.64461 0.59190 0.50025 0.42410 0.36061 0.95135 0.90529 0.90529 0.86167 0.82035 0.78120 0.74409 0.67556 0.61391 0.55839 0.46319 0.38554 0.32197 0.94661 0.89632 0.84893 0.80426 0.76214 0.72242 0.64958 0.58468 0.52679 0.42888 0.35049 0.28748 0.94191 0.88745 0.83639 0.78849 0.74356 0.70138 0.62460 0.55684 0.49697 0.39711 0.31863 0.25668 0.93722 0.87866 0.82403 0.77303 0.72542 0.68095 0.60057 0.53032 0.46884 0.36770 0.28966 0.22917 0.93256 0.86996 0.81185 0.75788 0.70773 0.66112 0.57748 0.50507 0.44230 0.34046 0.26333 0.20462 0.92792 0.86135 0.79985 0.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.31524 0.23939 0.18270 092330085282 078803 072845 0.67362 062317 0.53391 0.45811 0.39365 0.29189 0.21763 0.16312