document.write( "Question 161712: can someone help me with this problem please:\r
\n" ); document.write( "\n" ); document.write( "Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.\r
\n" ); document.write( "\n" ); document.write( "$6600 at 6% compounded quarterly for 4 years.\r
\n" ); document.write( "\n" ); document.write( "a. $5227.82
\n" ); document.write( "b. $8375.30
\n" ); document.write( "c. $5201.00
\n" ); document.write( "d. $1399.00 \n" ); document.write( "

Algebra.Com's Answer #119189 by Edwin McCravy(20055) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "where A = final amount = 6600\r\n" );
document.write( "      P = beginning amount (unknown)\r\n" );
document.write( "      r = rate expressed as a decimal = 0.06\r\n" );
document.write( "      n = number of compoundings per year = 4 (quarterly)\r\n" );
document.write( "      t = number of years = 4\r\n" );
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document.write( "So the nearest answed is c.\r\n" );
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document.write( "Edwin

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