An investment is providing a scholarship worth $4720 every year indefinitely. What is money invested if the rate is 6.5% compounded quarterly?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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An investment is providing a scholarship worth $4720 every year indefinitely. What is money invested if the rate is 6.5% compounded quarterly? ( p value up to four d.p.) USE CALCULATOR ONLY FOR CALCULATIONS 

PMT$ 

I/Y 

C/Y 

i

p

 PV $

 

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