contestada

Tyler is going to invest in an account paying an interest rate of 5.7%
compounded quarterly. How much would Tyler need to invest, to the nearest
dollar, for the value of tthe account to reach $14,700 in 17 years?
( need it ASAP please)

Respuesta :

Answer:

Step-by-step explanation:

5616

The amount need to invest to the nearest dollar, for the value of the account is $5,616.

Calculation of the amount:

Since

The interest rate be like = 5.7% = 5.7% / 4 = 1.43%

The time period = 17 * 4 = 68

The future value = $14,700

The PMT is = $0

Now the following formula is used;

So,

= -PV(RATE,NPER,PMT,FV,TYPE)

After applying it, the present value should be $5,616.

Learn more about rate here: brainly.com/question/24546293

5616

Ver imagen andromache

Otras preguntas