SOLUTION: How much money should be invested at 5% interest, compounded quarterly, so that 12 years later the investment will be worth $5000? This amount is called the present value of $5000
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Question 1058422: How much money should be invested at 5% interest, compounded quarterly, so that 12 years later the investment will be worth $5000? This amount is called the present value of $5000 at 5% interest. Answer by solve_for_x(190) (Show Source):
where FV is the future value, PV is the present value, r is the annual interest rate, n is the
number of periods per year, and t is the number of years.
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