SOLUTION: What amount of money is equivalent to receiving $5,000 two years from today, if interest is compounded quarterly at the rate of 2.5% per quarter?

SOLUTION: What amount of money is equivalent to receiving $5,000 two years from today, if interest is compounded quarterly at the rate of 2.5% per quarter?

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Question 990310: What amount of money is equivalent to receiving $5,000 two years from today, if interest is compounded quarterly at the rate of 2.5% per quarter?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
5000=P(1.025)^(2*4)
5000/1.2184=P
P=4103.74
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