Solve the problem.
-Barbara knows that she will need to buy a new car in 5 years. The car will cost $15,000 by then. How much should she invest now at 4%, compounded quarterly, so that she will have enough to buy a new car?
A)$13,585.96
B)$12,293.10
C)$12,822.06
D)$11,854.72

Question

Solve the problem. 
-Barbara knows that she will need to buy a new car in 5 years. The car will cost $15,000 by then. How much should she invest now at 4%, compounded quarterly, so that she will have enough to buy a new car?
A)$13,585.96 
B)$12,293.10 
C)$12,822.06 
D)$11,854.72

Quizplus · Accepted Answer

The Answer of Solve the problem. 
-Barbara knows that she will need to buy a new car in 5 years. The car will cost $15,000 by then. How much should she invest now at 4%, compounded quarterly, so that she will have enough to buy a new car?
A)$13,585.96 
B)$12,293.10 
C)$12,822.06 
D)$11,854.72

Solve the Problem