document.write( "Question 1149208: How much money should Jordan deposit into an account today, at 2.9% interest compounded quarterly, so that it will yield payments of $1000 at the end quarter for the next 8 years? \n" ); document.write( "

Algebra.Com's Answer #770570 by MathTherapy(10552) $\"\"$ $\"About$

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How much money should Jordan deposit into an account today, at 2.9% interest compounded quarterly, so that it will yield payments of $1000 at the end quarter for the next 8 years?
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Correct amount to deposit, TODAY: 
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document.write( "Use the formula: , where:   
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document.write( "To make it a LITTLE easier, you can calculate 
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document.write( "The other person who responded KEEPS doing these problems the wrong way, and keeps giving wrong answers, ALL the time. 
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document.write( "With his answer: $25,395.52, quarterly payments will NEVER be $1,000. That amount will only provide $892.09 every quarter for 8 years. \n" );
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