Question

How much would you need to deposit in an account now in order to have $4000 in the account in 15 years? Assume the account earns 8% interest compounded quarterly. Round your answer to the nearest cent

Answer 1

Answer: 22,9$

Explanation:

for the sample:

Z=4000 $⋅8/100(%)/14(years)

Z +-= 22,9$