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Find amount that set aside to yield desired future amount

Find the amount that should be set aside today to yield the desired future amount

Future amount needed: $14,000

Interest rate: 4%

Compounding period: quarterly

Investment time: 3 years

Present value of $1.00 at 4% compounded 12 times = 0.62460

The present value is?

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Finance Basics: Find amount that set aside to yield desired future amount

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Find amount that set aside to yield desired future amount

Reference No:- TGS0670559

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Estimate informational content of dividend policy

Q : Net increase or decrease in cash

Q : Calculate the effect of the lifo on the income

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Q : Find amount that set aside to yield desired future amount

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Find amount that set aside to yield desired future amount

Reference No:- TGS0670559

Recent Questions Asked Finance Basics

Q : Estimate informational content of dividend policy

Q : Net increase or decrease in cash

Q : Calculate the effect of the lifo on the income

Q : Unique cultural and political history of saudi arabia

Q : Find amount that set aside to yield desired future amount

Q : What is the amount of current liabilities

Q : The machine under each depreciation method

Q : Determine dividend irrelevance theory

Q : What is the standard price or rate

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