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28 August, 23:12

Use the present value formula to determine the amount to be invested now, or the present value needed.

The desired accumulated amount is $130,000 after 7 years invested in an account with 3 %interest compounded quarterly.

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  1. 28 August, 23:37
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    N=3

    because there are two negatives the problem cancels out to n+17=20
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