SOLUTION: how much must be invested today at 6% compounded quarterly to have $8,000 in 3 years?

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Question 446298: how much must be invested today at 6% compounded quarterly to have $8,000 in 3 years?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
8000=P(1+0.06/4)^12
8000=P(1.015)^12
8000=P*1.1956
P=8000/1.1956
P=$6,691.20