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Question 9 of 15 | Page 9 of 15 Question 9 (2 points) Richard wants to have $114 150.00 in six years, seven months from now. How much would he have to invest right now to achieve his goal, if he is getting 7.6% compounded quarterly rate of return on his investment? a $53163.28 b $65492.23 c $69538.03 d $57813,11

          Question 9 of 15 | Page 9 of 15
Question 9 (2 points)
Richard wants to have $114 150.00 in six years, seven months from now. How much would he have to invest right now to achieve his
goal, if he is getting 7.6% compounded quarterly rate of return on his investment?
a
$53163.28
b
$65492.23
c
$69538.03
d
$57813,11

Question 9 of 15 | Page 9 of 15
Question 9 (2 points)
Richard wants to have 114 150.00 in six years, seven months from now. How much would he have to invest right now to achieve his
goal, if he is getting 7.6% compounded quarterly rate of return on his investment?
a53163.28
b
65492.23
c69538.03
d
57813,11

Added by Barbara D.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Adi S

09/15/2023

Step 1

- 6 years = 6 * 4 quarters = 24 quarters - 7 months = 7/12 years = 7/12 * 4 quarters = 2.33 quarters - Total quarters = 24 + 2.33 = 26.33 quarters Show more…

Show all steps

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Question 9 of 15 | Page 9 of 15 Question 9 (2 points) Richard wants to have $114150.00 in six years, seven months from now. How much would he have to invest right now to achieve his goal, if he is getting 7.6% compounded quarterly rate of return on his investment? a $53163.28 b $65492.23 c $69538.03 d $57813,11 Question 9 of 15|Page 9 of 15 Question 9(2 points) Richard wants to have $114 150.00 in six years, seven months from now. How much would he have to invest right now to achieve his goal, if he is getting 7.6% compounded quarterly rate of return on his investment? $53163.28 Ob $65492.23 0 $69538.03 PO $57813,11