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Miguel needs 34,100 purchase a boat. How much money will he need to invest today in a savings account earning 4.1% interest, compounded quarterly, to have enough money to purcha…

Miguel needs 34,100 purchase a boat. How much money will he need to invest today in a savings account earning 4.1% interest, compounded quarterly, to have enough money to purcha…
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Miguel needs 34,100 purchase a boat. How much money will he need to invest today in a savings account earning 4.1% interest, compounded quarterly, to have enough money to purchase the boat in 16 years?

asked
User Kevmon
by
8.7k points

1 Answer

5 votes

Answer:

17,754.46

Explanation:

answered
User Puravidaso
by
8.1k points
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