Question

What amount must be invested now in savings account earnings 9% compounded quarterly to
accumulate a total of 21,000 after 4 ¾ years​

Answer 1

Answer:

Compound Interest Reference: Mathematics of Investment by Winston Sirug. ... What amount must be invested now in a savings account earnings 9% compunded quarterly to accumulate a total of 21,000pesos after 4¾ years.

Answer 2

Invested amount  in savings account is 13,759.93 Pesos.

Step-by-step explanation:

• Given that j = 9% = 0.09, m = 4, F = 21000, T =  4 ¾ = 4.75 years,

• n = tm = 4.75(4) = 19
• i = j/m =0.09/4=0.0225

• P =F/(1+i)^n

           =21000/(1+0.0225)^19

           =13,759.93 Pesos.