Question 1189483: Jim Ryan, an owner of a Burger King restaurant, assumes that his restaurant will need a new roof in 6 years. He estimates the roof will cost him $10,400 at that time.
What amount should Jim invest today at 6% compounded quarterly to be able to pay for the roof? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
AMount to be invested?
Answer by ikleyn(52875)   (Show Source):
You can put this solution on YOUR website! .
Jim Ryan, an owner of a Burger King restaurant, assumes that his restaurant will need a new roof in 6 years.
He estimates the roof will cost him $10,400 at that time.
What amount should Jim invest today at 6% compounded quarterly to be able to pay for the roof?
(Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
AMount to be invested?
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Your post is strange.
From one side, it requests to use some Table.
From the other side, the Table is not provided.
I can easy solve the problem without using any Table, but then my solution will not follow your instruction.
My advise to you is to read what you post and to think about it, at least 30 seconds or 1 minute.
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