Question

How many dollars must you invest today to have $90,700 in 25 years? Assume that the money earns 6.75% compounded quarterly.

Answer 1

Not sure but I think that's it... let me know

90,700=p(1+0.0675/4)^25x4

90,700=p(1.016875)^100

90,700=p(5.33036598)

p=17,015.7172