SOLUTION: How much money needs to get invested now to get $2,000 after 4 years at 8% compounded quarterly?
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Question 1063725: How much money needs to get invested now to get $2,000 after 4 years at 8% compounded quarterly?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
P = ?
A=2000
r= 8% = 0.08
periods 4
time 4 years
2000= P*(1+0.02)^16
2000 = P*(1.02)^16
2000=P*1.37278
P= 2000/1.37278
1456.89 = P
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