Tanja wants to establish an account that will supplement her retirement income beginning 30 years from now. Find the lump sum she must deposit today so that $400,000 will be available at time of retirement, if the interest rate is 10%, compounded quarterly. How much must Tanja invest? P= (Round to the nearest cent as needed.)
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Tanja wants to establish an account that will supplement her retirement income beginning 30 years from now. Find the
lump sum she must deposit today so that $400,000 will be available at time of retirement, if the interest rate is 10%,
compounded quarterly.
How much must Tanja invest?
P=
(Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1341decc-8dec-4d41-bf9b-f8cce7b2aabd%2F565afe1b-d90d-4857-a559-f9204e78f1bb%2Fm3hvp3_processed.jpeg&w=3840&q=75)
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