Post a New Question
posted by Peter on Friday, July 4, 2014 at 1:16pm.
Myrna Lewis wishes to have $4,000 in four years to tour Europe. How much must she invest today at 8% interest compounded quarterly to have $4,000 in four years?
x(1+.08/4)^(4*4) = 8000 Now just solve for x
More Related Questions