Question 986183: decides to invest with EASTPAK bank. how much will mike have to invest if he wants to have a sum of $8000 in four years time? Answer by solver91311(24713) (Show Source):
If the rate of interest expressed as a decimal is and the number of compounding periods per year is then the amount required to invest as a single payment at the beginning of the four year period is:
Plug in your numbers and do the arithmetic.
John
My calculator said it, I believe it, that settles it
