13. Bob and Joy Salkind want to save $50,000 in 5 ½ years for home improvement projects. If the Bank of Aventura is paying 8% interest compounded quarterly, how much must the couple deposit now to have the money for the projects?
business math - Reiny, Saturday, July 6, 2013 at 4:22pm
x(1.02)^22 = 50000
x = 32341.95