Wendy wants $15,000 saved in 6 years to make a down payment on a house. How much money should she invest now at 4.65% compounded annually in order to meet her goal?
A (1.0465)^6 = 15,000
A = 15,000/1.313516
= 11,419.73
A = 15,000/1.313516
= 11,419.73