Ask Question
12 December, 23:04

Find the lump sum that must be deposited today to have a future value of $24,000 in 6 years if funds earn 8% compounded quarterly. A. $14,921.28

B. $15,651.36

C. $18,652.30

D. $28,651.12

+2
Answers (1)
  1. 12 December, 23:29
    0
    A

    Step-by-step explanation:

    24,000 = P (1 + 0.08/4) ^24

    P = 24,000 / (1.02) ^24

    = 14,921.28
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Find the lump sum that must be deposited today to have a future value of $24,000 in 6 years if funds earn 8% compounded quarterly. A. ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers