SOLUTION: a company will need $45,000 in 6 years for a new addition to meet the goal, the company deposits money in an account that pays 6% annual interest compounded quarterly. Find the amo

Algebra ->  Finance -> SOLUTION: a company will need $45,000 in 6 years for a new addition to meet the goal, the company deposits money in an account that pays 6% annual interest compounded quarterly. Find the amo      Log On


   

Question 764848: a company will need $45,000 in 6 years for a new addition to meet the goal, the company deposits money in an account that pays 6% annual interest compounded quarterly. Find the amount that should be invested to total $45,000 in 6 years.
The company should invest $???
(round to the nearest dollar as needed)
Answer by reviewermath(1029) About Me  (Show Source):
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Q:
a company will need $45,000 in 6 years for a new addition to meet the goal, the company deposits money in an account that pays 6% annual interest compounded quarterly. Find the amount that should be invested to total $45,000 in 6 years.
The company should invest $???
(round to the nearest dollar as needed)
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A:
45000%2F%281+%2B+0.06%2F4%29%5E%28%284%29%286%29%29 = $highlight%2831479%29