Problem: Jocelyn plans to raise P^(300),000 in 3 years. How much should she save to have the desired amount if she deposits it in a bank account that pays 12% compounded quarterly?
Added by Brandon C.
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We need to find the present value (PV) of P^(300),000 that will grow to this amount in 3 years at 12% interest compounded quarterly. Show more…
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