How much should you invest into an account with 3.2% interest compounded quarterly if you want to recieve a payment of $1000 each quarter for the next 5 years ? Can you possibly show what equation is used instead of excel ? Thank you

How much should you invest into an account with 3.2% interest compounded quarterly if you want to recieve a payment of $1000 each quarter for the next 5 years ? Can you possibly show what equation is used instead of excel ? Thank you

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...

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How much should you invest into an account with 3.2% interest compounded quarterly if you want to recieve a payment of $1000 each quarter for the next 5 years ?

Can you possibly show what equation is used instead of excel ? Thank you

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