How much money should be invested at 8% compounded quarterly so that it will be worth $5000 in 5 years?

asked Dec 3, 2024 229k views

1 vote

8.9k points

Please log in or register to add a comment.

3 votes

Answer: $25,000

Explanation:

You invest $10,000 annually. If you divide 10,000 by 4, you get 25,000. It's $25,000 quarterly.

Manoj Selvin answered Dec 9, 2024

8.1k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers