Question

Find the present value that will grow to ​$24000 if interest is 3​% compounded quarterly for 14 quarters. The present value is ​$ . ​(Round to the nearest cent as​ needed.)

Answer 1

Answer:

$21,616.26.

Step-by-step explanation:

24000 =P(1 + 0.03/4)^14

P = 24000 / (1 + 0.03/4)^14)

21,616.26.

=