SOLUTION: Suppose you want to have $1,000,000 in 18 years. To achieve this goal,how much would you have to invest today if you can earn 4.9% compounded quarterly? Round to the nearest doll

Question 1004531: Suppose you want to have $1,000,000 in 18 years. To achieve this goal,how much would you have to invest today if you can earn 4.9% compounded quarterly? Round to the nearest dollar.
Answer by josgarithmetic(39623) (Show Source): You can put this solution on YOUR website!
The quarterly rate is percent.

p is for how much to invest now, and the number of quarter periods is periods.

and you can use logarithm if you want.

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