Math, asked by kumarimonisha0, 5 hours ago

Bill Poole wants to have $20,000 available in 5 years for a down payment on a house. He has inherited $16,000. How much of the inheritance should he invest now to accumulate the $20,000 if he can get an interest rate of 5.5% compounded quarterly?

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Answered by pradyumnff1

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Bill Poole wants to have $20,000 available in 5 years for a down payment on a house. He has inherited $16,000. How much of the inheritance should he invest now to accumulate the $20,000 if he can get an interest rate of 5.5% compounded quarterly?​

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Bill Poole wants to have $20,000 available in 5 years for a down payment on a house. He has inherited $16,000. How much of the inheritance should he invest now to accumulate the $20,000 if he can get an interest rate of 5.5% compounded quarterly?