What lump sum should be deposited in an account that will earn at an annual rate of 8%, compounded quarterly, to grow to $160,000 for retirement in 30 years?     $15,094.34     $15,900.37     $14,862.76     $47,058.82     $14,630.94

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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What lump sum should be deposited in an account that will earn at an annual rate of 8%, compounded quarterly, to grow to $160,000 for retirement in 30 years?
   

$15,094.34

   

$15,900.37

   

$14,862.76

   

$47,058.82

   

$14,630.94

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