Pedro pascal wants to have $15,000 in an account after five years. he found a bank that will offer him a 7.5% interest rate, compounded quarterly. how much does he need to put in the account today?

Answer-

He needs to put $10345 in the account today, in order to get 15000 in five years.

Solution-

We know that,

Where,

A = future value of the investment with interest  = 15000

P = principal investment amount

r = annual interest rate (decimal)  = 7.5% = 0.075

n = number of times that interest is compounded per year  = 4

t = the number of years the money is invested = 5

Putting the values,

10 you would take 50/ .2

step-by-step explanation:

.19875994384

step-by-step explanation:

1699/ 8548