Question 750932
how much money should be deposited today in an account that earns 8% compounded quarterly so that it will accumulate to $3800 in 12 years. Please give explanation/show work
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{{{FV = PV*(1 + 0.08/4)^(12*4)}}}
{{{3800 = PV*(1 + 0.08/4)^(12*4)}}}
Solve for PV (Present Value)