SOLUTION: how much should you invest at 7% interest compounded annually, so that $5000 will be available in 4 years?

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Question 800829: how much should you invest at 7% interest compounded annually, so that $5000 will be available in 4 years?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
5000=P(1.07)^4
5000=P(1.311)
5000/1.311=P
3813.88=P