Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $140,000 after 4 years invested in an account with 4% 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 $140,000 after 4 years invested in an account with 4% interest compounded quarterly.
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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Transcribed Image Text:Use the present value formula to determine the amount to be invested now, or the present value needed.
The desired accumulated amount is $140,000 after 4 years invested in an account with 4% interest compounded quarterly.
The amount to be invested now, or the present value needed, is $
(Round to the nearest cent as needed.)
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