document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=221168>Question 221168</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the present value of $60,000 due in 4 yr at the given rate of interest. (Round your answer to the nearest cent.) <BR>\n" );
document.write( "12%/year compounded quarterly  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #165934 by </B><A HREF=/tutors/aboutme.mpl?userid=rfer><B>rfer(16322)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rfer><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=165934\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=A/(1+.12/4)^4*4<BR>\n" );
document.write( "P=60000/(1.03)^16<BR>\n" );
document.write( "P=60000/(1.6047)<BR>\n" );
document.write( "P=$37390.17 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );